Equity crowdfunding campaign underway for platform enhancements, marketing and new hires
With record demand and pricing for used cars, we are experiencing history in the making. Automatic, a disruptive fintech platform tapping into the burgeoning $1.3 trillion used cars market, is along for that ride. Automatic, which was founded in early 2020, connects independent used auto dealers with lenders and finance & insurance vendors. The timing of the technology build and their strategic positioning has helped them expand to almost 1000 dealerships in their early growth stages.
That’s because Automatic is modernizing the outdated, fragmented independent dealer financing ecosystem. Their platform saves independent auto dealers time and effort helping them facilitate the closure of deals from multiple lenders quickly through swift, streamlined loan approvals.
Automatic’s fintech solution to an old problem couldn’t come at a better time. As used auto sales continue to trend upward, and consumers scramble to buy almost any car they can, dealers need more options. Used car dealerships are used to a frustrating and disjointed ecosystem with an incredible amount of pain points. Automatic takes that pain away and used car dealers are noticing; Automatic has built a dealer network approaching 1,000 strong with more signing up every week.
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Between the company’s unique platform and market-wide demand triggered by CV19 and chip shortages, Automatic is experiencing tremendous application and user growth with no end in sight. Capitalizing on present and emerging market trends, crowdfunding is sought to improve the product, make key hires and optimize their lending process to position Automatic as the #1 used car loan solution provider.
In stark contrast to most equity crowdfunding campaigns that are launched by pre-revenue startups, Automatic is up and running and ramping up to strengthen their growth trajectory.
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