App Closes $100 Million Debt Facility Featured

By Staff Writer August 29, 2019

Vehicle subscription app Fair announced it has closed a $100 million debt facility and an equity investment as it expands its relationship with Ally Financial. The debt facility, provided by Ally Bank to a subsidiary of Fair, is designed to help the fintech startup secure vehicles for entry-level car customers who might not otherwise qualify for a traditional loan or lease.

Fair and Ally initiated a strategic alliance in 2018 that includes Fair using Ally’s SmartAuction and Clearlane tools to manage vehicle inventory and provide customer access to an alternative to traditional financing channels.

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Last modified on Thursday, 29 August 2019 01:25

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