AutoFi, a San Francisco, CA-based point of sale financing solution for the auto industry, raised $17m financing round.
The round was led by Crosslink Capital with participation from Lerer Hippeau Ventures, Bruce Toll (Founder of Toll Brothers) and other early stage investors.
The company intends to use the funds to scale its online point of sale financing solution at participating dealers.
Led by Kevin Singerman, CEO, and President Jonathan Palan, AutoFi provides a point of sale financing platform to allow online shoppers to finance and pay for vehicle purchases entirely online. The platform enables consumers to select a vehicle, apply for financing, select the payment and terms, choose their protection products and e-sign the finance contracts.