Fair’s integration places the startup as a finance option on RouteOne’s platform alongside companies like Ally Financial, Chase Auto, Toyota Financial Services and 1,400 other lenders. Fair is not listed as an “active finance” option yet, according to RouteOne’s website.
Yet, Fair plans to leverage its integration with RouteOne to generate more sales from dealers’ preowned inventory, while expanding its reach to consumers that lack a well-established credit history to qualify for traditional financing.
Fair’s integration with RouteOne comes on the heels of multiple funding rounds that have bumped up the startup’s funding to $2 billion. Fair is backed by investments from Ally Financial, Mizuho Bank, Silicon Valley Bank, and SoftBank, with additional investments from Exponential Ventures, Munich Re Venture’s ERGO Fund, G Squared and CreditEase. Other investors in the startup include Credit Suisse and Goldman Sachs.
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