Obra Capital-backed Arra Finance completed the acquisition of the auto financing division of Crescent Bank.

Obra Capital-backed Arra Finance, an auto-finance company, completed the acquisition of the auto financing division of Crescent Bank, a commercial and community bank. Financial terms were not disclosed. “With today’s announcement, we have rapidly advanced Arra’s growth trajectory, substantially improving our ability to be the premier financing partner for franchise and select independent dealers,” Kenn Wardle, Arra Finance Chief Executive Officer.