Auto lending software platform DigniFi collects funding

DigniFi, which helps the automotive industry with simplified loan application processes, has raised funding from Brigade Capital Management.

With the funds, DigniFi hopes to execute its three-year growth strategy, which is centred on operational stability, product development and commercialisation, and expansion into transportation-adjacent markets and ecosystems.

DigniFi gives auto dealers and small businesses with tools to grow their revenue and offer inclusive financing. Its technology simplifies the loan application process and enables small businesses to offer on-the-spot financing for auto repairs, parts and accessory purchases and maintenance packages.

As part of the deal, a representative of Brigade will join DigniFi’s board of directors as an advisor and observer.

DigniFi previously raised $14m in its Series A, which was led by BuildGroup.

Last year, Brigade led the $29m debt and equity funding round of invoice payment system Now.

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