Congratulations to our portfolio company, AutoGravity, for surpassing $2 billion in finance amount requested in 2017. Launched in 2016, the revolutionary FinTech platform empowers car shoppers to buy and finance new or used vehicles from the convenience of their smartphones. In a very short time, AutoGravity has rapidly expanded–from 100,000 users in its first six months, to more than 1.3 million users.
While sharing news of the latest milestone, Andy Hinrichs, CEO of AutoGravity, said:
“With more than $2 billion in finance amount requested in 2017, AutoGravity is at the forefront of digitizing the car-buying and financing experience. AutoGravity technology makes it possible for car buyers to access any showroom right from their smartphone, take control with personalized payments on any car in minutes — close the deal — and drive off the lot with confidence.”
The key to its success: An easy-to-use platform that provides users with the tools they need to seamlessly and transparently find and finance a car, putting the power back in consumers’ hands. What’s more, they have also built partnerships with the world’s largest banks and financial institutions–including Mercedes-Benz Financial Services, Audi Financial Services, Volkswagen Credit and Hyundai Capital America–as well as a network of over 2,000 dealers, including the top five dealer groups in the U.S..
About AutoGravity Corporation
AutoGravity technology is revolutionizing the digital car-buying experience. Harnessing the power of the smartphone, AutoGravity’s award-winning platform empowers car shoppers with transparency, convenience and speed.
Based in Irvine, California, AutoGravity partners with the world’s leading banks and financial services companies to give car buyers direct control over how they finance or lease their cars, while connecting them to a nationwide network of trusted car dealerships. Available on iOS, Android and Web, AutoGravity provides car buyers with up to four tailored loan or lease offers in minutes. For more information, please visit www.AutoGravity.com.
Read the full press release here.