With a funding round now completed, a new auto-finance technology company now has more resources to fulfill its pledge to get any deal bought no matter what credit background the potential vehicle buyer has.

This week, Car Capital, which said it has developed a proprietary, web-based platform to give every dealer partner the power to approve 100% of consumers regardless of credit history, announced that it closed an $8.8 million Series A funding round.

According to a news release, the round was led by FM Capital with participation from more than 50 individual and institutional investors, including Automotive Ventures and Medalist Partners.

Car Capital launched operations with a select group of beta dealers. The company said it will roll out to a broader group of dealer partners in the coming weeks.

What’s propelling the company’s business is what it has dubbed the Dealer Electronic Auto Loan System (DEALS).

“We saw a need in the market for a technology solution that helps franchise and independent dealers sell more cars to underserved consumers. Our web-based tools give the dealer, not a lender, the ability to optimize their profit on each car in their inventory,” Car Capital co-founder and chief executive officer Justin Tisler said in the news release.

“We want our dealer partners’ customers to feel confident when shopping for a car at the dealership that approvals can be available to all,” Tisler continued. “Anyone, no matter their credit situation, should be able to buy a car for personal transportation, particularly during these trying times.”

The Car Capital program is designed to allow dealer partners to make real-time, instant changes to deal terms based on the economics of each unique vehicle and consumer. Car Capital said the company and dealer partners can work together to align the interests of all parties “so everyone wins.”

Brian Reed, who co-founded F&I Express that was later acquired by Cox Automotive, now is chairman at Car Capital.

“We felt it was important to give each Car Capital dealer partner back-end profit based on performance, instead of requiring a minimum pool size,” Reed said. “Through our unparalleled business model and DEALS platform, we provide more profit opportunities for our dealer partners and more financing options for car buyers.”

Car Capital is currently licensed to operate in Florida, Georgia, Indiana, Ohio, Oklahoma, Tennessee and Texas. With the Series A funding, the company said it will expand operations, grow their network of dealers and add more states to broaden their geographic reach.

“We’re excited to be an investor in Car Capital,” FM Capital managing partner Chase Fraser said. “The company possesses the technology to make vehicle financing accessible to all consumers, and dealers will benefit by increasing their monthly unit sales.”

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