Car Capital Closes ‘Milestone Transaction’

By Staff Writer January 12, 2022

Automotive FinTech company, Car Capital, has closed a $150 million three-year secured credit facility and a $6.125 million equity investment from funds managed by affiliates of Fortress Investment Group. This milestone transaction provides Car Capital with the debt needed to expand their rapidly growing business, fund more dealers, and increase the number of underserved consumers who want to purchase a vehicle.

“We are very pleased to partner with Fortress who has a long history of providing capital to FinTech and automotive companies,” said Justin Tisler, co-founder and CEO at Car Capital. “The commitment, both on the debt and equity side, of such a respected market participant is a testament to our business model, team, and market opportunity.”

Through their proprietary, fully digital platform, Dealer Electronic Auto Loan System (DEALS), Car Capital allows their dealer partners to instantly approve 100% of their customers, regardless of credit history. With DEALS, dealers have the ability to make 24/7 approval decisions based on the economics of each unique car and consumer. And dealer partners get back-end profit based on performance, not a minimum portfolio size.

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Last modified on Monday, 17 January 2022 16:45