Peer-to-peer used-car buying app Blinker scored a $10 million investment yesterday, in a funding round led by Thornapple River Capital, according to a company press release. According to Crunchbase data, this is the company’s first funding round.
Blinker, which launched in 2016, uses a proprietary decisioning system to fund loans on its platform. The Denver-based company uses artificial intelligence and image recognition to enable customers to buy, sell, finance and refinance their vehicles by snapping a photo or entering a car’s license plate number. Currently, Blinker is available in California, Colorado, Florida and Texas.
Thornapple River Capital is an alternative asset-management firm specializing in private company investments. It launched in 2015 and manages nine private funds investing in industries such as community banks, technology and state-legalized marijuana companies.
Source : AutoFinanceNews
