Automatic

Automatic

Early Stage

The Fintech platform that connects independent auto dealers and lenders

The Fintech platform that connects independent auto dealers and lenders

Overview

Raised to Date: Raised: $56,035

Total Commitments ($USD)

Platform

Republic

Start Date

09/19/2022

Close Date

12/30/2022

Min. Goal
$25,000
Max. Goal
$2,400,000
Min. Investment

$500

Security Type

SAFE

Series

Seed

SEC Filing Type

RegCF    Open SEC Filing

Valuation Cap

$20,000,000

Discount

0%

Rolling Commitments ($USD)

Status
Funded
Reporting Date

12/31/2022

Days Remaining
Funded
% of Min. Goal
Funded
% of Max. Goal
Funded
Likelihood of Max
Funded
Avg. Daily Raise

$549

# of Investors

116

Momentum
Funded
Create a free account today to gain access to KingsCrowd analytics.
Year Founded

2020

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2B

Margin

Medium

Capital Intensity

Low

Location

Vernon, Connecticut

Business Type

High Growth

Automatic, with a valuation of $20 million, is raising funds on Republic. It is a fintech platform that connects lenders and independent auto dealers in the used car space. The app improves the experience for used car buyers, finance managers, and insurance managers. It has helped to reduce the loan approval time by 87.5% and data entry by 75%. Automatic has over 1,400 dealership partnerships and $25-$30 million in recurring monthly deal flow. Eric Burney, Max Kane, and John Liu founded Automatic in January 2020. The current crowdfunding campaign has a minimum target of $25,000 and a maximum target of $2.4 million. The campaign proceeds will be used for business development, loan program, product and key hires, marketing, and operations.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$40,798

$32,808

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$-940,207

$-53,088

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$11,845

$382,108

Accounts Receivable

$0

$0

Total Assets

$879,721

$695,184

Short-Term Debt

$116,665

$85,508

Long-Term Debt

$1,693,686

$600,099

Total Liabilities

$1,810,351

$685,607

Financials as of: 09/19/2022
Create a free account today to gain access to KingsCrowd analytics.

Raise History

Offering Name Close Date Platform Valuation/Cap Total Raised Security Type Status Reg Type
Automatic 12/30/2022 Republic $20,000,000 $56,035 SAFE Funded RegCF
Automatic 11/11/2021 Wefunder $13,000,000 $1,377,416 SAFE Funded RegCF
Create a free account today to gain access to KingsCrowd analytics.

Upgrade to gain access

Pay Monthly
Annually (Save 17%)

Edge

$25 /month
billed annually
Free portfolio tracking, data-driven ratings, AI analysis and reports
Plan Includes:
Everything in Free, plus
Company specific KingsCrowd ratings and analyst reports
Deal explorer and side-by-side comparison
Startup exit and failure tracking
Startup market filters and historical industry data
Advanced company search ( with ratings)
Get Edge Annual
Already a member? Log in here.

Ratings KingsCrowd Startup Rating Methodology Article

Blurred Ratings Bars Blurred Ratings Bars
Founders: enhance your startup's credibility on KingsCrowd. Create an account to claim this raise page.

Create your first portfolio

Create your own startup investment portfolio on KingsCrowd.

Track all of your startup investments in one place using our state-of-the-art portfolio tracker tools. To begin, create your first portfolio below.

Add to portfolio
Automatic on Republic 2022
Platform: Republic
Security Type: SAFE
Valuation: $20,000,000

Follow company

Follow Automatic on Republic 2022

Buy Automatic's Deal Report

Warning: according to the close date for this deal, Automatic may no longer be accepting investments.

Automatic Deal Report

Get KingsCrowd’s comprehensive report on Automatic including:

  • How our proprietary algorithm rates their current capital raise (1-5 stars)
  • Detailed price, market, team, differentiators, performance, and risk ratings
  • Whether Automatic is undervalued or overvalued
  • Scores on the founding team and key personnel's background and expertise

Buy the Automatic deal report for only $10!

Email address:
Looking to buy more than one deal report? Get unlimited reports by upgrading to Edge