Kinetic Receives Investment from Altamont

By Staff Writer January 18, 2021

Altamont Capital Partners announced its investment in a newly formed automotive floorplan financing company, Kinetic Advantage.

Kinetic is led by CEO Marty McFarland, who co-founded Dealer Services Corp. in 2005. McFarland is joined by industry veterans Randy Dohse, COO, and Chris Brady, CIO, both of whom worked with McFarland at DSC. Rounding out the experienced leadership team are Joe Keadle, SVP of operations, and Joe O’Brien, SVP of sales and marketing. 

The company was formed with the vision to provide a better floorplan experience to independent auto dealers by streamlining the customer experience, increasing flexibility and offering increased transparency around fees, all enabled by a market-leading technology platform. Launched in 26 markets to date, Kinetic will operate nationally with relationships across auction platforms. In total, the company and has secured more than $225M of initial debt and equity funding to support its expansion.

McFarland said, “Having operated in the automotive sector our entire careers, my team and I see a real need for a new provider that can serve as a truly agnostic floorplan financing partner to independent dealers. We recognize the pain points present in the industry and are optimistic that our entry into the market will provide a welcome solution to our dealer and auction partners.”

Keoni Schwartz, managing director of Altamont, commented, “We were impressed by the vision that Marty and his team discussed in our initial dialogue and are thrilled to partner with Kinetic. We recognize the clear market need for a true partner to dealers – that will provide transparent pricing, a hassle-free collateral audit process and technology solutions that deliver a more streamlined experience.”

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Last modified on Monday, 18 January 2021 15:33