Fair has collected a total of $100m in equity and debt financing from Ally Financial as part of a strategic partnership, eight months after SoftBank led its $385m series B round.
Financial services holding firm Ally Financial provided $100m in equity and debt financing for US-based automotive leasing service Fair yesterday.
The ratio of equity and debt was not disclosed. Ally Bank, the digital bank subsidiary of Ally Financial, supplied the debt facility to an unspecified subsidiary of Fair.
Founded in 2016, Fair operates a mobile app where users can lease second-hand vehicles, paying through monthly installments without making a long-term commitment to buy. It has facilitated more than 45,000 car…
Thierry Heles
Thierry Heles is editor-at-large of Global University Venturing and Global Corporate Venturing, and host of the Beyond the Breakthrough podcast.
