Fuse Autotech, a Minneapolis, MI-based fintech software platform to improve the car buying process, closed a $10m Series A financing.
The round was led by Target Global with participation from PICO Venture Partners, Christopher Muhr, former COO of Auto1, and Escavel Capital.
The company intends to use the funds to expand its product and R&D teams.
Founded in 2020 by Andrew Walser, CEO of Walser Automotive Group, and Elie Wurtman, Managing Partner of PICO Venture Partners and co-founder of Vroom (NASDAQ: VRM), and led by Colton Ray, CEO, Fuse Autotech provides a a SaaS based Finance Management System (FMS) that allows dealership personnel to create and close vehicle deals by combining artificial intelligence, technology integration and process automation.
The company currently serves over 100 dealerships in the United States through various SaaS products and is processing nearly $1 billion worth of vehicle transactions per year.
FinSMEs
14/08/2021