Fair, a Santa Monica, CA-based provider of an app that lets people shop, get approved and pay for cars, closed a strategic equity funding of undisclosed amount.
The round was led by next47, with participation from BMW, CreditEase FinTech Investment Fund, Millennium Technology Value Partners, 137 Ventures, G Squared, and Upfront Ventures.
Led by Scott Painter, CEO and founder, Fair allows customers to get a car entirely on their phone. Users can scan their driver’s license to get pre-qualified for a range of personalized monthly payments, sign for the car they want with their finger, and pick up the keys without any physical paperwork.
Fair launched an iOS App Store last August and recently completed its expansion to all major markets in California. It plans to launch nationwide by the end of the year.
The company has also acquired Skurt, a provider of a vehicle-delivery app, as part of its plan to scale a platform for vehicle delivery, pick-up and fleet management.
The company’s platform enables the digital initiation and monitoring of customer car deliveries from a central dashboard, as well as real-time notification, fleet location tracking, and instant communication throughout the process.
FinSMEs
05/02/2018