Daimler Financial Services invests in AutoGravity vehicle finance app
Daimler Financial Services AG is investing an undisclosed amount in AutoGravity, a startup founded in late 2015 in Irvine, California, as part of its growth strategy in digital financing and mobility services.
In partnership with Daimler, AutoGravity’s comparison app for vehicle shopping and financing will be rolled out in 46 US states.
Using a smartphone, customers are able to browse and select vehicles from different manufacturers and then choose one of up to four binding finance offers.
Bodo Uebber, Member of the Board of Management of Daimler AG, responsible for Financing & Controlling and Daimler Financial Services, said: “We believe AutoGravity and its technology have the potential to revolutionize the sector for online financing while, at the same time, offering a digital platform for other financial services providers and automotive manufacturers.”
In the US, the AutoGravity financing app is already working with other banks, manufacturers, and dealerships. Consideration is also being given to rolling out AutoGravity in other markets.
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