Automatic

Early Stage

The Fintech platform that connects independent auto dealers and lenders

Analytics

Raised to Date: Raised: $1,377,416

Aggregate Commitments $

Platform

Wefunder

Start Date

01/18/2021

Close Date

11/12/2021

Min. Goal

$50,000

Max. Goal

$5,000,000

Min. Investment

$100

Security Type

SAFE

Funding Type

RegCF

Series

Seed

Valuation Cap

$13,000,000

Discount Rate

0%

Rolling Commitments $

Status
Funded
Reporting Date

11/30/2021

Days Remaining
Funded
% of Min. Goal

2,755%

% of Max. Goal

28%

Likelihood of Max
Funded
Avg. Daily Raise

$4,622

# of Investors

990

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

Vernon, Connecticut

Industry

Financial & Insurance Products & Services

Tech Sector

Fintech

Distribution Model

B2B

Margin

High

Capital Intensity

Low

Business Type

Life Style

Automatic, with a $24 million valuation cap, is raising funds on Wefunder. 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%. Eric Burney, Max Kane, and John Liu founded Automatic in January 2020. The company has raised over $1 million in previous rounds of financing. The current round of crowdfunding has a minimum goal of $50,000 and a maximum goal of $1,070,000, and the funds will be used for business development, marketing, operations, and product buildout. Automatic has over 400 dealership partnerships and reported 40% month-over-month growth despite COVID-19.

Summary Profit and Loss Statement

Most Recent Year Prior Year

Revenue

$24,790

$0

COGS

$0

$0

Tax

$0

$0

 

 

Net Income

$4,495

$0

Summary Balance Sheet

Most Recent Year Prior Year

Cash

$5,200

$0

Accounts Receivable

$24,790

$0

Total Assets

$178,590

$0

Short-Term Debt

$174,095

$0

Long-Term Debt

$0

$0

Total Liabilities

$174,095

$0

Financials as of: 01/18/2021
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 12/31/2022 Republic $20,000,000 $47,920 SAFE Active RegCF
Automatic 11/12/2021 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

$12.42 /month
billed annually
Free portfolio tracking and KingsCrowd's quantitative ratings on all raises.
Plan Includes:
Everything in Free, plus
Company specific KingsCrowd ratings (excluding risk)
Advanced company search ( with ratings)
Markets page filters and historical industry data
Get Edge Annual

Edge Pro

$41.58 /month
billed annually
Full site access including KingsCrowd's qualitative analyst reports.
Plan Includes:
Everything in Edge, plus
Full access to detailed Analyst Reports (e.g. Top Deal, Deal to Watch, Neutral, and Underweight)
Search and filter based on Analyst Reports
In-depth risk ratings for every raise
Get Edge Pro Annual
Already a member? Log in here.

Ratings KingsCrowd Startup Rating Methodology Article

Create your first portfolio

Create your very own investment portfolio on KingsCrowd.

Now you can track all of your startup investments in one place utilizing our state-of-the-art portfolio tracker tools. To begin, create your first portfolio below.

Add to portfolio
Automatic on Wefunder
$
Platform: Wefunder
Security Type: SAFE
Valuation: $13,000,000
Invest in a different round for this company? Use my investment date to determine which raise I invested in.

Follow company

Follow Automatic on Wefunder
View on Wefunder (Closed)
Bullish / Bearish
You're Bullish on Automatic on Wefunder

Thank you for your vote on Automatic on Wefunder

Bullish / Bearish
You're Bearish on Automatic on Wefunder

Thank you for your vote on Automatic on Wefunder