Skip to main content

Arra Finance Finalizes Acquisition of Crescent Auto Finance and Enhances Capital Stack; Launches Next Stage of Business Growth

IRVING, Texas, Oct. 01, 2025 (GLOBE NEWSWIRE) — Arra Finance, LLC (“Arra” or the “Company”), a subprime indirect auto finance company, today announced that it has finalized its acquisition of the auto finance division of Crescent Bank and increased its funding capital sources. With the completion of these key business developments, Arra takes a major step forward as a significant player in the subprime auto financing space, with a significantly expanded origination capacity and the secure financing necessary to be a partner of choice for dealers across the country.

Arra’s acquisition of Crescent Bank’s auto finance division closed on September 15, bringing an enhanced technology stack to the Arra platform, including e-contracting and auto-decision capabilities, sophisticated analytics and fraud protection tools. The transaction also added an established servicing system, infrastructure and larger team, which will allow Arra to service Crescent Bank’s $770 million auto loan portfolio in addition to Arra’s own loans. As previously announced, the closing of this deal significantly increases Arra’s auto finance origination capacity, with an expanded dealer base, industry-leading credit application response times and an advanced analytical framework.

With the support of Obra Capital (“Obra”), Arra has entered into a multi-year forward flow agreement that will ensure its supporting capital base can scale in tandem with the rapid growth of its business. Through its innovative capital structure, Arra has also secured access to a credit warehouse facility with Goldman Sachs, providing readily accessible senior warehouse financing. Taken together, this wider pool of funding capital and ability to generate consistent long-term cash flow allows Arra to match its expanded origination capacity with a robust financing ecosystem operating at scale.

“Arra is set to advance the subprime auto financing market. We have built a platform tailor-made to meet dealer needs, with near immediate credit application response times and a strong financing pipeline,” said Kenn Wardle, Chief Executive Officer of Arra. “With today’s announcement, we have the funding, reach, technology and analytic capabilities necessary to deliver routinely positive results for our dealers at significant volume. We are thrilled to enter this next phase of growth for our business.”

Steven Lackowski, Chief Financial Officer of Arra, added, “Arra has established an innovative and durable capital structure, with flexibility enabled by continued support from Obra. Our capital strategy continues to be a key differentiator as we can offer efficient products for dealerships, borrowers and investors. In preparation for our entry into the ABS market, we have enhanced the scalability of our platform, improving our ability to meet dealer needs with diversified, reliable capital sources and positioning Arra as the trusted partner dealers can count on to fuel their growth.”

“In just a few short months, Arra has executed on key growth objectives with speed and precision, emerging as a leader in the subprime auto finance market,” said Blair Wallace, President & Chief Executive Officer of Obra. “With expanded capital markets access, we see considerable opportunity for Arra to capitalize on its industry positioning, establishing a new model for operational excellence and strategic execution.”

About Arra Finance
Arra Finance is a subprime indirect auto finance company providing fast, simplified solutions and options for dealers. The company’s cutting-edge auto finance platform delivers auto financing solutions for used car buyers to over 5,900 franchise and independent dealerships across 40 states. With a scalable origination system, industry leading application turnaround time and an expansive data warehouse, Arra is the partner of choice for dealers looking to facilitate sales and grow their businesses. For more information about Arra Finance, please visit www.arrafinance.com.

About Obra Capital
Obra is a specialized alternative asset management firm that provides investment products and solutions across insurance and credit verticals. The firm aims to generate long-term value and returns for investors through a variety of funds and separate accounts. With capabilities in investing, originating, structuring, and servicing, Obra strives to provide differentiated investment opportunities for investors globally. As of August 31, 2025, the estimated unaudited amount of assets under management across Obra’s registered investment advisors, was approximately $6.2 billion. For more information about Obra and its registered investment advisors, please visit www.obra.com.

Media Contacts
Dan Gagnier
Gagnier Communications
Obra@gagnierfc.com
646-569-5897

Disclaimer & Cookie Notice

Welcome to GOLDEA services for Professionals

Before you continue, please confirm the following:

Professional advisers only

I am a professional adviser and would like to visit the GOLDEA CAPITAL for Professionals website.

Important Notice for Investors:

The services and products offered by Goldalea Capital Ltd. are intended exclusively for professional market participants as defined by applicable laws and regulations. This typically includes institutional investors, qualified investors, and high-net-worth individuals who have sufficient knowledge, experience, resources, and independence to assess the risks of trading on their own.

No Investment Advice:

The information, analyses, and market data provided are for general information purposes only and do not constitute individual investment advice. They should not be construed as a basis for investment decisions and do not take into account the specific investment objectives, financial situation, or individual needs of any recipient.

High Risks:

Trading in financial instruments is associated with significant risks and may result in the complete loss of the invested capital. Goldalea Capital Ltd. accepts no liability for losses incurred as a result of the use of the information provided or the execution of transactions.

Sole Responsibility:

The decision to invest or not to invest is solely the responsibility of the investor. Investors should obtain comprehensive information about the risks involved before making any investment decision and, if necessary, seek independent advice.

No Guarantees:

Goldalea Capital Ltd. makes no warranties or representations as to the accuracy, completeness, or timeliness of the information provided. Markets are subject to constant change, and past performance is not a reliable indicator of future results.

Regional Restrictions:

The services offered by Goldalea Capital Ltd. may not be available to all persons or in all countries. It is the responsibility of the investor to ensure that they are authorized to use the services offered.

Please note: This disclaimer is for general information purposes only and does not replace individual legal or tax advice.