About Credit Acceptance
Credit Acceptance is a company based in Detroit (United States) founded in 1972.. The company has 2,430 employees as of December 31, 2024. Credit Acceptance offers products and services including Pre-qualification Service and Payment System. Credit Acceptance operates in a competitive market with competitors including Octane, Lendbuzz, AutoPay, WithClutch and First Help Financial, among others.
- Headquarter Detroit, United States
- Employees 2430 as on 31 Dec, 2024
- Stage Public
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Sectors
Financial Services
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Credit Acceptance Corporation
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Annual Revenue
$2.16 B13.7as on Dec 31, 2024
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Net Profit
$247.9 M-13.35as on Dec 31, 2024
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EBITDA
$1.62 B15.64as on Dec 31, 2024
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Latest Funding Round
$500 M (USD), Debt – Conventional
Aug 28, 2019
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Investors
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Employee Count
2430
as on Dec 31, 2024
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IPO & Listings of Credit Acceptance
Credit Acceptance is a publicly listed company on the NASDAQ with ticker symbol CACC in USA, operating in the Finance sector. As a publicly traded entity, the company provides investors with opportunities to participate in its growth story through equity ownership. The listing enables access to capital markets, enhances corporate visibility, and provides liquidity for shareholders while maintaining transparency through regulatory compliance and regular financial disclosures.
Products & Services of Credit Acceptance
Credit Acceptance offers a comprehensive portfolio of products and services, including Pre-qualification Service and Payment System. 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.
Tool for quick auto financing pre-qualification.
System to handle auto loan payments securely.
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Market Team
114 people
Software Development Team
89 people
Sales and Marketing
77 people
Senior Team
30 people
Product Management Team
26 people
Data Analysis and Operations Team
25 people
Leadership Team
18 people
Legal and Compliance
11 people
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Funding Insights of Credit Acceptance
- Total Funding Total Funding
- Total Rounds 4
- Last Round Debt – Conventional — $500.0M
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First Round
First Round
(21 Sep 2006)
- Investors Count Investors Count
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2019 | Amount | Debt – Conventional - Credit Acceptance | Valuation |
investors |
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| Feb, 2019 | Amount | Debt – Conventional - Credit Acceptance | Valuation |
investors |
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| May, 2018 | Amount | Debt – Conventional - Credit Acceptance | Valuation |
investors |
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| 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 |
Investments & Acquisitions by Credit Acceptance
| 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 - Credit Acceptance
| 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 |
Credit Acceptance Comparisons
Competitors of Credit Acceptance
Credit Acceptance 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 Octane, Lendbuzz, AutoPay, WithClutch and First Help Financial, 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 |
Instant financing solutions are offered for vehicle purchases by Octane.
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| domain | founded_year | HQ Location |
Online car loans are provided via a digital application platform.
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| domain | founded_year | HQ Location |
Online lending marketplace for auto loans
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| domain | founded_year | HQ Location |
Car loans are refinanced via an online lending marketplace.
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| domain | founded_year | HQ Location |
Online auto finance aggregation platform
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| 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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Latest news on Credit Acceptance
Frequently Asked Questions about Credit Acceptance
When was Credit Acceptance founded?
Credit Acceptance was founded in 1972 and raised its 1st funding round 34 years after it was founded.
Where is Credit Acceptance located?
Credit Acceptance is headquartered in Detroit, United States. It is registered at Detroit, Michigan, United States.
Who is the current CEO of Credit Acceptance?
Brett Roberts is the current CEO of Credit Acceptance.
How many employees does Credit Acceptance have?
As of Dec 31, 2024, the latest employee count at Credit Acceptance is 2,430.
What is the annual revenue of Credit Acceptance?
Annual revenue of Credit Acceptance is $2.16B as on Dec 31, 2024.
What does Credit Acceptance do?
Credit Acceptance is an indirect auto finance company, working with car dealers nationwide to enable them to sell cars to consumers on credit regardless of their credit history. Its guaranteed Credit Approval program provides their dealer-partners with the opportunity to deliver credit approvals to consumers within 30 seconds through the Internet using their patented Credit Approval Processing System (CAPS). Credit Acceptances underwriting risk is reasonable because the dealer pays fixed fees to be on the program. They require a minimum of 800 a month income, a minimum of 500 down (can be cash or trade equity) and the car is brought from one of their signed dealerships. In 2018, the company recorded annual revenues of 1.3B, and a net profit of 574M.
Who are the top competitors of Credit Acceptance?
What products or services does Credit Acceptance offer?
Credit Acceptance offers Pre-qualification Service and Payment System.
Is Credit Acceptance publicly traded?
Yes, Credit Acceptance is publicly traded on NASDAQ under the ticker symbol CACC.
What is Credit Acceptance's ticker symbol?
The ticker symbol of Credit Acceptance is CACC on NASDAQ.
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