About this raise
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.
Investment Overview
Invested $56,035 :
Deal Terms
Company & Team
Company
- Year Founded
- 2020
- Industry
- Financial & Insurance Products & Services
- Tech Sector
- Distribution Model
- B2B
- Margin
- Medium
- Capital Intensity
- Low
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Company Funding & Growth
Funding history
- Total Prior Capital Raised
- $1,693,686
- VC Backed?
- Yes