DigniFi Raises $14M in Series A Funding
Summary
DigniFi, a Seattle, WA-based financing platform for auto repairs and services, raised $14m in Series A funding. Backers included Austin-based BuildGroup, the permanent capital company started by Lanham Napier, formerly of RackSpace, and Exor Seeds, the venture arm of Exor N.V., the holding company of the Agnelli family (controlling shareholder of Fiat Chrysler, Ferrari, CNHI, PartnerRe, and Juventus). In addition, the company has signed an agreement with Neuberger Berman Private Equity to purchase up to $275m of assets. Led by Richard Counihan, CEO, DigniFi provides a platform that partners with auto service centers to offer access to financial products for car repairs, tires, accessories, and other automotive needs. To date, the platform has provided access to over $120 million of financing in partnership with more than 5,000 auto service centers, covering all five profit centers of a dealership: financing and insurance (F&I), sales, parts and accessories, service, and collision.