Lithia makes Shift in $140m series D

Sep 14, 2018 • Robert Lavine

Automotive sales services provider Shift Technologies raised debt and equity financing in a round led by Lithia Motors and backed by BMW i Ventures.

Automotive retailer Lithia Motors invested $54m yesterday to lead a series D round for US-based online vehicle sales service provider Shift Technologies consisting of more than $140m in equity and debt financing.

BMW i Ventures, the strategic investment arm of automotive manufacturer BMW, and Alliance Ventures, which represents carmakers Renault, Nissan and Mitsubishi, also took part in the round.

The corporates were joined by investment banking firm Goldman Sachs’ Investment Partners unit and venture capital firms DCM Ventures, DFJ, G2VP…

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