UpStart partners with banks and credit unions to increase the number of consumers who can access affordable credit. According to the company, its platform “combines online and in-store digital retail capabilities with financing and manager tools to help you create an omnichannel car buying experience.”
In Q2 2023, UpStart will add an AI-powered digital finance tool that enables frictionless signatures and contracting, alongside automated verification and next-day financing. It will also launch online sales to enable buyers to purchase a car completely online, including financing and e-signing contract documents. Both of these applications can be tailored to work with the existing software and workflow processes of dealerships, according to the company.
Founded in 2012 by Google alumni and headquartered in San Mateo, California, and Columbus, Ohio, UpStart asserts that its new digital finance and online sales applications will help dealerships to offer customers a seamless online-to-in-store car-buying process.
UpStart is the second fastest growing auto retail software business in the U.S., according to Automotive Market Data. It is currently working with 780 dealerships nationwide, including Del Grande Dealer Group (DSDG) in the San Francisco area.
“In 2022, we launched a successful pilot program with UpStart to extend our leadership in creating a best-in-class digital experience,” said Jeremy Beaver, CEO of DGDG. “We expect to make further progress this year by completing our start-to-finish omnichannel sales approach.”
“Buying and financing a car is an important financial milestone, and UpStart is continually evolving to help dealerships meet customers where they are,” said Dave Girouard, co-founder and CEO of UpStart.
“As more consumers opt for a digital car-buying experience, the new digital finance and online sales applications will enable dealerships to deliver the buying experience that consumers expect.”