Carputty offers the Flexline product, a flexible line of credit to finance new and used vehicles, lease buyouts, and refinancing, using data-driven insights to provide transparent, dynamic financing. Founded in 2020 and operating from Atlanta, the company sells via multichannel partnerships and works with partners such as Turo and Lucid Motors USA. Carputty operates across 48 states and territories and is anticipated to open in California, representing ~12% of the U.S. auto market. The company plans to use new funding to aggregate large tranches of prime-plus consumer auto loans and to prepare for its first securitization. Carputty positions the Flexline to support onboarding new buyers and investors and to expand its direct-to-consumer offerings. The company has raised more than $100 million in total funding to date. Carputty offers Flexline™, a continuous line-of-credit product that members can use to finance new and used vehicles, buy out leases, or refinance existing auto loans. Consumer Flexline limits go up to $250,000 while Business Flexline reaches $800,000. The company sells an end-to-end, data-driven platform that can be embedded with business partners to provide integrated auto financing capabilities. Led by co-founders Patrick Bayliss (CEO) and Joshua Tatum (Chief Product Officer), Carputty is focused on accelerating platform development and expanding business collaborations. The company intends to use recent funding to drive commercialization and adoption across the U.S. Carputty had $21.96M in total funding after the announced round. Carputty is an Atlanta-based direct lender that aims to transform auto finance by returning control and transparency to consumers. Its proprietary software includes Flexline, which lets consumers place one or more cars on a single platform with rates set by a consumer profile, and V3 Valuation, a predictive analytics tool to estimate vehicle values. The platform underwrites loans for pre-approval without affecting consumer credit scores and supports refinancing, new and used purchases, and lease buyouts. Co-founders Patrick Bayliss (CEO) and Joshua Tatum (CPO) bring multi-dealership and consumer-lending experience. The company plans to use new capital to enhance its products, scale quickly, and deliver easy-to-use lines of credit and valuation tools. Carputty positions itself against a large market opportunity, citing roughly $1.4 trillion in outstanding auto loans in late 2020.

Total raised

$100M

Funding rounds

4

Latest round

Equity

Latest activity

Mar 2024