Startup Mobiliti has set in motion plans to establish itself as a global player in the subscription space via a newly inked partnership with Australian marketplace Carsales.com.
With an inventory of more than 200,000 new and used vehicles, Richmond, Australia-based Carsales.com is an online marketplace for consumers to buy and sell cars. The site attracts roughly 20 million unique monthly visitors and works with 4,000 dealers.
“We will completely integrate [our technology] into Carsales.com,” Mobiliti Chief Executive Chance Richie told Auto Finance News. “The goal is to start in Melbourne and Sydney and expand the program from there.” A timeline for launching Mobilti’s program on Carsales.com has not been determined since the companies are still working on the integration process, he said.
The move is a part of Mobiliti’s strategic direction to expand its Detroit-based U.S. platform and partner with companies internationally that want to integrate subscription capabilities within existing offerings, Richie explained.
In that light, expanding in Australia with a well-established online marketplace made sense for the startup, which took about a year to finalize the partnership with Carsales.com. “It’s harder to get financing for vehicles in Australia,” Richie said, noting that stricter underwriting has led to a higher demand for subscription services Down Under.