Automatic

Fintech for auto financing

Security Type: Crowd SAFE
Min Investment: $100
Location: VERNON, CT
Offering Date: September 20, 2022
Expected Close Date: December 31, 2022
Target Raise: $25.00K-$2.40M
No. Investors: 116
Security Price: $1
Website: automaticusa.com

Number of Employees: 0
Cash: $11,845
Revenue: $40,798
Short Term Debt: $116,665
Cost of Goods: $0
Long Term Debt: $1,693,686
Net Income: $-940,207

Key Deal Facts

A digital platform connecting independent dealers, lenders, and investors
Underserved market of 55,000 independent dealerships nationwide
1400 dealerships on Automatic
$25 – $30M in recurring monthly deal flow
Financed total amount of 2021 loans within the first two quarters of 2022
Incubated by 10X Capital

Management Team / Advisory Board Bios

Alex Egan
Founder

Max Kane
CFO

John Liu
Co-Founder

Alex Egan
Co-Founder

Amount Raised : $56,035

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Security Description

An equity crowdfunding specific version of a SAFE used by crowdfunding portal Republic. Upon conversion (if and when that happens), investors may receive special shares with limited rights that do not show up on a company’s cap table. The issuer may roll over and not convert shares at the next financing round causing investors to lose out on some upside.

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