AutoFi recieves $10m Series A funding

fintech insurtech wealthtech regtech ai cybertech esg news
fintech insurtech wealthtech regtech ai cybertech esg news

San Francisco-based AutoFi has received $10m in its Series A funding round to boost its partners.

Investments to the round came from firms including Crosslink Capital, Ford Motor Credit, and Lerer Hippeau Ventures.

Founded in 2015, AutoFi is an online car financing platform, helping to connect car dealers with lenders so customers can purchase online. Through the platform the user selects a vehicle, fills an application to get financing to buy the car, the user has the chance to select the F&I products.

The new equity will be used to expand internationally, with AutoFi planning to launch its platform in the Canadian market early next year.

Total funding in to the company has reached around $27m, with a $17m financing round coming last May.

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