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Fair eyes new debt funding

Fair is in discussion with a "major global financial institution" for as much as $500 million of debt funding, Co-Founder Georg Bauer told Auto Finance News. To date, the 3-year-old vehicle subscription company has raised $1.5 billion in funding over nine rounds. "Once this [funding] is closed, we are picking up our work with the […]

What’s a subscription service? [Video]

Netflix, Spotify, and Amazon have the U.S. moving toward a subscription-based economy, and auto financiers are figuring out where they fit in. What does a car subscription service look like? Auto Finance Excellence answers that question in its explainer video, the first in a new animated video series. Click here to check it out. 

Fair to Roll Out Weekly Payment Program

Subscription app Fair is gearing up for the rollout of a weekly payment plan for Uber drivers, Patrick Wilkison, Fair's general partner and head of ride-sharing, told Auto Finance News.   “We realized the [weekly payment] is the type of cadence the rideshare driver operates,” Wilkison said. “Rideshare drivers get their payouts on a weekly […]
  • Nicole Casperson
  • June 5, 2019

Deadline Nears for AFN DEMOvation Challenge Submissions

With the deadline looming, now’s the time for startups to apply for a limited number of innovation demos during Auto Finance Innovation Summit 2019, which is slated for May 14-15 at the Omni San Diego. Auto Finance News is holding a DEMOvation Challenge in advance of Auto Finance Innovation Summit 2019 to determine which startups will […]

Fair to Add Inventory With $50M Debt Facility Backed by Silicon Valley Bank

Used-car leasing app Fair closed a $50 million debt facility financed by Silicon Valley Bank. The funds will be used to purchase more vehicles for Fair’s fleet, the company announced Jan. 24. The new debt facility is a move for the bank to support “companies offering disruptive solutions in industries undergoing transformative change," Zhengyuan Lu, […]
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