Car Capital Technologies, a trusted partner for independent and franchise automotive dealerships seeking innovative financing solutions, is excited to announce major funding commitments to continue to expand the business, further enhance origination capabilities and drive significant portfolio growth. The company has successfully closed a senior/subordinate warehouse financing facility and secured lead equity investments from two strategic partners as part of its recently launched Series B funding round.

In a move to diversify and expand its financing sources to better serve its dealer partners, Car Capital has secured a $70 Million Committed Warehouse Facility provided by Westlake Capital Finance, LLC and Medalist Partners. Car Capital expects to expand this facility as originations continue to accelerate over the next several quarters and into 2025. This innovative private credit financing solution is comprised of both Class A and Class B secured debt and will further Car Capital's support of its dealer network, allowing them to scale and thrive in today's competitive market.

Car Capital Technologies is a leading provider of financing solutions for independent and franchise automotive dealerships. Offering tailored financing options with dealer participation in financing revenue and retaining the financing relationship with the consumer, Car Capital enables real-time approvals with personalized payments on eligible inventory. This allows dealers to meet their customers' unique needs with an end-to-end digital process. Focused on innovation and customer success, Car Capital is committed to helping dealerships thrive in today's dynamic market environment.