SAN DIEGO — Blinker is in the process of integrating lender partners into its platform, President Danny Martinez said at Auto Finance Innovation 2017.
“Currently, we handle all the lending activity on our platform,” Martinez said. The startup has its own proprietary decisioning system, as well as the equity and credit facility, to be able to fully support its current origination activity, Martinez told AFN.
“We are now in the process of going through some lending partnership integration, which is a meaningful build,” he said. However, Blinker is taking its time, as it presents a “technical challenge” for the startup to maintain a good consumer experience, while also securing “successful partnerships, with high-quality lenders,” Martinez said.
Denver, Colo.-based Blinker launched in March 2016, and it funds loans to consumers with Fico scores as low as 560, and loan terms ranging from 24 to 72 months.
Blinker is a free mobile app that allows people to buy, sell, finance, and refinance cars themselves with the snap of a photo, using patent-pending, image-recognition technology.