Fintech Startup Fair Closes Funding Round Led by BMW i Ventures including investments from Penske Automotive Group.
The future of car ownership is Fair. That’s their marketing slogan and with the direction of the auto industry, auto financing and automobile ownership in the U.S. they may be right.
Fair a Santa Monica based fintech organization changing the way consumers look at automobile ownership. Now expanding from Los Angeles to all of California and other selected markets throughout 2018.
Using data and not relying solely on a consumers credit score Fair is able to offer drivers pre-owned vehicles without a long term financial commitment virtually anywhere in minutes through their mobile app.
Consumers can drive the vehicle as long as they want and return it anytime with five days’ notice.
The use of AI and big data allows Fair to learn ongoing patterns and trends as a method of identifying and creating tailored solutions for consumers based on their budget and needs.
Monthly payments tailored to the driver include routine maintenance, limited warranty and roadside assistance and an in app option to purchase insurance.
Fintech startup Fair has also secured close to a billion in capital that will be used to strategically fund innovative transportation models like ride sharing and flexible ownership.
Our insider says, “Penske Automotive Group being on this deal shows the product/service is cutting edge technology”.
Penske invests heavily in technology a sign that Fair is onto something big.
Mobility auto solutions is a growing segment within the fintech and auto industry.
Developing mobile apps and solutions that will address today’s tech savvy consumer will be a critical call to action for those looking to stay ahead of the curve or play catch up later.
Fintech startup Fair is truly a creative alternative to auto solutions on the market today. Check out Fair for more details.