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Renault, Volvo, Hyundai invest in cybersecurity startup

Upstream Security, a cybersecurity startup specializing in connected vehicles, closed a $30 million Series B funding round, the company announced today. The funding round was led by Renault Venture Capital and includes Volvo Group Venture Capital, Hyundai Motors, Hyundai AutoEver and Nationwide Ventures. Charles River Ventures, Glilot Capital and Maniv Mobility also returned for the second […]

Startup lender reveals strategy to disrupt auto finance [Podcast]

How do you measure risk for consumers without long credit histories in the U.S.? That’s the question Amitay Kalmar confronted when he founded Boston-based Lendbuzz in 2016. Three years later, Lendbuzz is carving out a share of potential auto loan customers by leveraging machine learning and data analytics. The startup lender targets foreign-born residents, such […]

Aussie fintech to enter US auto market

On the heels of growing its Canadian presence, Australian startup CarDeals2Me is in the “final stages” of preparations for a U.S. rollout, Chief Executive Shaun Sumaru told Auto Finance News. The 2-year-old company will start testing a new product in the U.S. next quarter that enables consumers to complete the vehicle purchase and finance process […]

AI Startup Helps BMW Financial Scale Call Center With Chatbots

SAN DIEGO — BMW Financial Services will have automated “digital assistants” added to its call center capabilities by the third quarter, thanks to a partnership with startup CarLabs.AI, the tech company’s Chief Executive Martin Schmitt said at the Auto Finance Innovation Summit Wednesday. CarLabs is a company that delivers AI-powered digital assistants for automotive brands. It started […]