Shift Expands to San Diego, Brings Hertz Financing In-House
Shift Technologies Inc. expanded its reach to San Diego — bringing its proprietary technology and team of car concierges to the city — just three months after teaming up with Hertz Car Sales.
Now, the company has brought Hertz financing in-house to the Shift Finance platform, Auto Finance News has learned.
The startup’s partnership with Hertz, which piloted in the Los Angeles and San Francisco Bay areas in December 2016, provides Shift the ability to feature vehicles from Hertz’s fleet inventory on its website.
Additionally, Shift’s collaboration with Hertz seeks to capitalize on consumer demand for the high-quality vehicles, along with Shift’s “test drives on demand” technology platform, President Toby Russell told Auto Finance News . Shift launched its test drive app on Apple’s iOS platform in July 2016. The app is capable of offering potential borrowers a test drive of whatever vehicle they are considering or have already decided to finance.
Shift expanded its services to San Diego on March 23, bringing its total operating locations to six cities. Shift operates in San Diego; Los Angeles; Sacramento; Orange County, Calif.; San Francisco; and Washington, D.C. The company has a road map of other expansions planned for this year, although Russell would not offer specifics.
Shift provides free on-demand test drives, on-site appraisals, and car pick-up. The company also manages the entire buying and selling process, ranging from routine inspections, to detailing and DMV paperwork.
Shift has raised more than $73 million in funding, with $23.8 million in its Series A round, led by DFJ and Highland Capital, and $50 million in Series B financing, led by Goldman Sachs Investment Partners.
Those interested in learning more about innovation in auto finance and the evolution of the transportation industry should join us at the second annual Auto Finance Innovation 2017 conference, May 17-18 at the Hilton Bayfront in San Diego. Visit www.autofinanceinnovation.com and to learn more.
