Thursday, September 24, 2015

DriverUp Raises $20M For Auto Loan Marketplace

Dallas-based DriverUp, which operates an online marketplace for auto financing, has raised $20M in a Series B funding round, the company announced this morning. Accordng to DriverUp, the new funding round was led by SF Capital Group, and also included Emerald Development Managers and RRE Ventures. DriverUp, which is led by Sam Ellis, said that SF Capital Group's Neil Wolfson joins the company's board with the funding. The company said the funds go towards product development, to support its loan inventory, and ramp up marketing. DriverUp said its marketplace helps investors who previously did not have access to the auto lending marketplace to connect with dealers, and offers up those dealers a streamlined credit application to help them speed up the loan process. More information »