Daimler Financial Services invests in AutoGravity vehicle finance app

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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.

autogravity

AutoGravity’s comparison app will be available in 46 US states.

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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Natalie Middleton

Natalie has worked as a fleet journalist for 16 years, previously as assistant editor on the former Company Car magazine before joining Fleet World in 2006. Prior to this, she worked on a range of B2B titles, including Insurance Age and Insurance Day. As Business Editor, Natalie ensures the group websites and newsletters are updated with the latest news.

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