We’re a team of software engineers in San Francisco helping lenders and dealers better serve Americans seeking to finance vehicles. Our software products are designed to be white-labeled by lenders and dealers so that they can fund more loans with less friction. By streamlining the consumer auto financing experience through the use of technology, the national lenders and dealers that we work with benefit from increased revenues and higher CSAT scores.
Document collection and verification has been a source of frusteration for dealers, lenders, and especially consumers. Loan applicants are often missing documents when they go to purchase or refinance a vehicle. Dealers that let car buyers drive off the lot have to call them back in later to provide the remaining docs, a process known as “chasing stips”. Lenders receive these chased down stips in the form of “trailing loan docs”, which are expensive to classify, scan, and analyze and slow down the funding process. What if software made it easier for consumers to provide lenders and dealers with documents needed for their loans to fund? What if lenders and dealers had more time to spend serving consumers instead of having to constantly get out of their seats to check on a fax machine?
Often times, dealers are not sure which cars on their lot an applicant will qualify for. Dealers end up having to submit multiple credit applications on behalf of consumers for varying amounts and vehicles in order to finally get an approval. This process, known as “rehashing”, can be enhanced through software that facilitates better collaboration amongst dealers, lenders, and consumers. What if dealers got to see all of the cars on their lots that applicants were qualified to finance? What if pre-approved consumers knew which cars were within their budget before walking on to a dealer’s lot?
Costs from inefficient lending processes get passed on to consumers in the form of higher interest rates. Lenders and dealers with more efficient processes are able to win over consumers by offering lower rates, which creates brand loyalty. Informed enables lenders and dealers to leverage artificial intelligence, machine learning, and automation to efficiently classify and analyze documents as well as decision applicants across thousands of vehicles in real-time.
Our team comes from Credit Karma, Lyft, Redfin, Stripe, SoFi, as well as Zenefits and includes credit union, banking industry and financial technology executives.
We are backed by founding Board Members of Salesforce as well as the technology industry’s notable angel investors.