Monday, October 23, 2017

Fair Raises Nearly $1 Billion In Strategic Funding Round

Los Angeles-based Fair, the automotive startup led by serial entrepreneur Scott Painter, has raised nearly $1 billion in a strategic funding, led by BMW i Ventures, along with Penske Automotive Group, Sherpa Capital, and others. Fair is developing an app-driven service which allows people to gain access to a car, which they can pay for on a monthly basis and return anytime. The funding also included other, un-named strategic investors. Fair's founders are Scott Painter (former CEO and founder of TrueCar and CarsDirect.com) along with auomotive executive George Bauer (Mercedes, BMW, Tesla). The company is changing the traditional models of buying a car with its service, which only requires a driver's license and bank account information. More information »

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