VW Credit makes investment into AutoGravity

VW Credit has made an investment into mobile auto vehicle financing provider AutoGravity in an undisclosed amount.

California-based AutoGravity offers US car buyers easy access to loan and lease offers, with four personalised products to choose from. The free to use platform connects customers directly with dealers and lenders.

Following the transaction, VW Credit is launching an app using AutoGravity’s platform to help bring Volkswagen and Audi financing directly to US car buyers.

AutoGravity CEO Andy Hinrichs said, “Mobile technology is a game changer for consumers, dealers and lenders. We have pioneered a digital experience that saves time and improves satisfaction for all parties through a device we are intimately familiar with – the smartphone.

“AutoGravity has experienced substantial growth since our first app hit the marketplace in the summer of 2016. This investment will help us accelerate in the face of rapidly growing consumer and industry demand.”

Earlier this year the firm picked up $30m in a Series A funding round.

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