About CarPay
CarPay is a company based in Wilmington (United States) founded in 2015.. CarPay has raised $10.11 million across 3 funding rounds from investors including Social Leverage, FJ Labs and Amplify. CarPay offers products and services including Carpay Mobile App, Payment Reminders, and Payment Syncing. CarPay operates in a competitive market with competitors including AutoFi, Vitu, StoneEagle F&I, Vero and OttoMoto, among others.
- Headquarter Wilmington, United States
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Sectors
Financial ServicesTransportation, Automotive & Logistics
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Email
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Phone
*********
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Website
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Social
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- Legal Name Carpay, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$10.11 M (USD)
in 3 rounds
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Latest Funding Round
$6.5 M (USD), Series B
Dec 28, 2020
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Investors
Social Leverage
& 5 more
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Employee Count
Employee Count
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Products & Services of CarPay
CarPay offers a comprehensive portfolio of products and services, including Carpay Mobile App, Payment Reminders, and Payment Syncing. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
App for customers to make payments and view loan details.
System for sending automated email and text reminders.
Tool to sync payments with dealer management systems.
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Leadership Team
2 people
F Team
1 people
Software Development Team
1 people
Finance and Accounting
1 people
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Funding Insights of CarPay
CarPay has successfully raised a total of $10.11M across 3 strategic funding rounds. The most recent funding activity was a Series B round of $6.5 million completed in December 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series B — $6.5M
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First Round
First Round
(01 Jun 2016)
- Investors Count 6
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Dec, 2020 | Amount | Series B - CarPay | Valuation | Autotech Ventures | |
| Feb, 2020 | Amount | Series A - CarPay | Valuation |
investors |
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| Jun, 2016 | Amount | Seed - CarPay | Valuation | RevTech Labs |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in CarPay
CarPay has secured backing from 6 investors, including venture fund investors. Prominent investors backing the company include Social Leverage, FJ Labs and Amplify. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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VC firm investing globally
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Founded Year | Domain | Location | |
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Venture capital firm and fund of funds focused on fintech, Adtech, and multiple sectors
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Founded Year | Domain | Location | |
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Tech startups are accelerated sector-agnostically by Amplify.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by CarPay
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - CarPay
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Carpay Comparisons
Competitors of CarPay
CarPay operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as AutoFi, Vitu, StoneEagle F&I, Vero and OttoMoto, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Cloud-based loan management is provided for automobile financing.
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| domain | founded_year | HQ Location |
Vehicle registration and titling are facilitated via SaaS platform.
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| domain | founded_year | HQ Location |
F&I management solutions are provided for auto-dealers.
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| domain | founded_year | HQ Location |
Asset-based lending solutions are provided through modern infrastructure technology.
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| domain | founded_year | HQ Location |
Platform for automotive dealers to manage lending, buyer verification, and deals efficiently.
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| Company Name | Domain | Founded year | HQ Location | Description |
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| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Frequently Asked Questions about CarPay
When was CarPay founded?
CarPay was founded in 2015 and raised its 1st funding round 1 year after it was founded.
Where is CarPay located?
CarPay is headquartered in Wilmington, United States. It is registered at Wilmington, Delaware, United States.
Is CarPay a funded company?
CarPay is a funded company, having raised a total of $10.11M across 3 funding rounds to date. The company's 1st funding round was a Seed of $20K, raised on Jun 01, 2016.
What does CarPay do?
CarPay was founded in 2015 and is based in Wilmington, United States. Loan lifecycle management software is provided by the company for purchase financing in the automotive sector. Services include loan origination and servicing, closing and processing, with payment options available through mobile, desktop, or phone channels. Operations focus on streamlining borrower interactions and financial workflows.
Who are the top competitors of CarPay?
CarPay's top competitors include AutoFi, StoneEagle F&I and Vero.
What products or services does CarPay offer?
CarPay offers Carpay Mobile App, Payment Reminders, and Payment Syncing.
Who are CarPay's investors?
CarPay has 6 investors. Key investors include Social Leverage, FJ Labs, Amplify, Autotech Ventures, and Pipeline Capital Partners.
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