Car Capital, a Grapevine, Texas-based automotive FinTech company, closed a $20m credit line with Medalist Partners.
This transaction gives the company access to capital to expand their business and fund deals.
Led by Justin Tisler, Co-founder and CEO, and Brian Reed, Chairman, Car Capital provides a proprietary, web-based platform, Dealer Electronic Auto Loan System (DEALSSM), which allows franchise and independent dealers to make auto loan decisions for their customers.
Car Capital allows their dealer partners to make immediate modifications to deal terms in real-time based on the economics of each unique car and consumer. Dealers make back-end profit off their sales based on performance, instead of requiring them to reach a minimum portfolio size.