Car Capital Closes $20M Debt Financing
This transaction gives the company access to capital to expand their business and fund deals.
Led by Justin Tisler, Co-founder and CEO, and Brian Reed, Chairman, Car Capital provides a proprietary, web-based platform, Dealer Electronic Auto Loan System (DEALS
SM), which allows franchise and independent dealers to make auto loan decisions for their customers.
Car Capital allows their dealer partners to make immediate modifications to deal terms in real-time based on the economics of each unique car and consumer. Dealers make back-end profit off their sales based on performance, instead of requiring them to reach a minimum portfolio size.
Automotive Fintech Car Capital Completes $20 Million Credit Line With Medalist Partners crowdfundinsider.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from crowdfundinsider.com Daily Mail and Mail on Sunday newspapers.
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GRAPEVINE, Texas, April 6, 2021 /PRNewswire/ Car Capital, an advanced technology company that provides their dealer partners with the ability to make 24/7 instant auto loan decisions, has closed an $8.8 million Series A funding round. The round was led by FM Capital with participation from over 50 individual and institutional investors, including Automotive Ventures and Medalist Partners. Car Capital launched operations with a select group of beta dealers and will roll out to a broader group of dealer partners in the coming weeks. Car Capital has developed a proprietary, web-based platform, Dealer Electronic Auto Loan System (DEALS
Fintech launch automates subprime loans for the automotive market
6 Apr 2021
Fintech company Car Capital has closed an $8.8 million Series A funding round that will enable it to launch its auto loan business across several states.
The Grapevine, Texas-based startup specializes in facilitating fast loan applications for car dealerships, promising a completely automated approval process and offering loans regardless of the customer s credit background.
A dealer submits a customer application through the company s Dealer Electric Auto Loan System (DEALS), which provides deal structures for all the cars on the dealer s lot. It shows the dealer s projected profit, enabling them to find the most profitable vehicle that is affordable for the customer.