{"data":{"type":"company_profile","id":70206,"entity_id":"wefunder:company:70206","attributes":{"canonical_url":"https://wefunder.com/automatic","generated_at":"2026-06-14T02:56:43Z","updated_at":"2026-06-13T05:00:28Z","entity_ids":{"company":"wefunder:company:70206","slug":"wefunder:company_slug:automatic"},"profile_visibility":{"owner_published":true,"public_search_results":true,"site_search_listed":true,"privacy_mode":"promote","invite_only":false},"provenance":{"source":"wefunder_public_company_profile","as_of":"2026-06-14T02:56:43Z","claims":{"total_amount_raised":{"source":"FrontCompanySummary#amount_raised","last_verified_at":"2026-06-13T05:00:28Z","as_of":"2026-06-14T02:56:43Z","confidence":"high"},"total_investors":{"source":"FrontCompanySummary#number_of_investors","last_verified_at":"2026-06-13T05:00:28Z","as_of":"2026-06-14T02:56:43Z","confidence":"high"},"active_raise_states":{"source":"Fundraise.visible(nil, nil)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-14T02:56:43Z","confidence":"high"},"latest_fundraise_state":{"source":"Fundraise.visible(nil, nil).order(funding_started_at)","last_verified_at":"2025-02-06T01:17:55Z","as_of":"2026-06-14T02:56:43Z","confidence":"medium"}}},"company":{"id":70206,"entity_id":"wefunder:company:70206","slug":"automatic","name":"Automatic","tagline":"The Fintech platform that connects independent auto dealers and lenders ","elevator_pitch":"We connect borrowers and lenders in the $1.3 trillion used car space. Our FinTech platform brings together many different tools and features in one easy-to-use app, drastically improving the customer experience for both the used car buyer and the finance and Insurance manager.","story":"Automatic is a disruptive finTech platform connecting independent used auto dealers with lenders and finance \u0026amp; insurance vendors. Essentially, we’re modernizing the archaic and fragmented independent dealer financing market.In building our software, we looked at existing solutions and closed the gaps. The result? Our platform saves independent dealers time and manual labor, while helping them close deals quickly through time-efficient approvals.The used car market has exploded during COVID, leading to an increased need for digital innovation in an industry that has famously failed to modernize. Already, we’ve partnered with 850+ dealerships, and we’re growing at 10-20% every week.\u0026nbsp;By investing now, you’ll get in on the ground floor as we capitalize on a window of opportunity never before seen in this market. Dealers need our solution more than ever, and we’re confident we can embed our platform into their workflow during this key time to secure lasting, lucrative partnerships.In hard times, used car sales significantly outperform new vehicle sales. Right now, this trend is rising side-by-side with increased demand for remote solutions. Our platform serves both of these needs simultaneously, positioning us at the center of two fast-growing markets. In year one alone, we’ve achieved positive net income (extremely rare!)—and we expect to continue this trend with robust growth across the years to come.Think of us as the “better mortgage of the auto industry.” We're not offering a new solution, we’re improving upon an existing solution with superior UX and integrated vendors, while focusing on the underserved independent dealer market. Between our one-of-a-kind platform and a liquidity crunch in the market (caused by other lenders pulling out of the space) , we’re growing fast...and we expect to continue to do so. With this in mind, we’re actively improving our product, making key hires, and refining our loan program to position ourselves as the #1 lending solution provider for independent dealers. Invest now for a chance to capitalize on this key window of opportunity alongside our experienced team.","location":"Tolland, CT","website":"https://automaticUSA.com","total_amount_raised":1377416,"total_investors":959,"is_funded":false,"is_active":false,"quality_score":4,"related_urls":["https://wefunder.com/automatic","https://automaticUSA.com"]},"media":{"share_image_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/70206/xxl_cropped_VideoThumbnail_v1.jpg","logo_url":"https://uploads.wefunder.com/uploads/company/logo/70206/large_cropped_AMT2.PNG","header_media_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/70206/standard_cropped_VideoThumbnail_v1.jpg","cover_photo_url":"https://uploads.wefunder.com/uploads/company/header_media_photo/70206/standard_cropped_VideoThumbnail_v1.jpg","profile_video_url":"https://wefunder.wistia.com/medias/6717l7qzmb"},"links":{"company_url":"https://automaticUSA.com","twitter_url":"http://twitter.com/loanautomatic"},"highlights":[],"quick_facts":[{"index":1,"claim_id":"claim-fact-1","value":"FinTech platform with 965+ dealership partnerships, growing at 40% MoM despite COVID19."},{"index":2,"claim_id":"claim-fact-2","value":"Developed with licensed lender (Signal Auto Group): 13 yrs of experience, 1.7k dealers in 13 states."},{"index":3,"claim_id":"claim-fact-3","value":"Answering a clear need in a $1.3 trillion industry that stopped evolving in 2004."},{"index":4,"claim_id":"claim-fact-4","value":"Automatic translates to an 87.5% approval time reduction \u0026amp; 75% data entry time reduction."},{"index":5,"claim_id":"claim-fact-5","value":"Team has over 80 years of combined experience in FinTech, lending, and the auto industry."},{"index":6,"claim_id":"claim-fact-6","value":"Auto loans make up nearly 10% of all household debt, behind only mortgages and student loans."}],"team":[{"id":1165373,"entity_id":"wefunder:company_role:1165373","user_entity_id":"wefunder:user:1184635","role":"founder","name":"Eric BURNEY","title":"CEO \u0026 Co-Founder","bio":"Eric has over 17 years of experience in the pre-owned vehicles space, including founding and scaling Signal Auto Broker, LLC to encompass 1,700 franchises and independent dealerships in 48 states.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1165373/square_cropped_Headshots_Eric_v1.jpg?1605036812","profile_url":"https://wefunder.com/ericburney2","linkedin_url":"https://www.linkedin.com/in/eric-burney-a2740848/","related_urls":["https://wefunder.com/ericburney2"]},{"id":1226045,"entity_id":"wefunder:company_role:1226045","user_entity_id":"wefunder:user:1184829","role":"founder","name":"Max Kane","title":"Chief Financial Officer \u0026 Co-Founder","bio":"Max has been immersed in the financial end of the mortgage banking industry for over 20 years, managing up to $5B annually. His focus includes all aspects of the “back end” of the business, including analyzing the company's financial health.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1226045/square_cropped_Headshots_Max_v1.jpg?1605042448","profile_url":"https://wefunder.com/max.kane","linkedin_url":"https://www.linkedin.com/in/max-kane-92577815b/","related_urls":["https://wefunder.com/max.kane"]},{"id":1229131,"entity_id":"wefunder:company_role:1229131","role":"founder","name":"John Liu","title":"Co-Founder","bio":"John has been in financial services for 20 years, both within investment companies and leading product organizations. Using his finance and strategy expertise, John has served as an advisor for multiple startups \u0026amp; is an accomplished author \u0026amp; speaker.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1229131/square_cropped_Headshots_John_v1.jpg?1649427553","linkedin_url":"https://www.linkedin.com/in/johnliu13/","twitter_url":"https://twitter.com/JL_DiFi","related_urls":[]},{"id":1226044,"entity_id":"wefunder:company_role:1226044","user_entity_id":"wefunder:user:1184382","role":"employee","name":"Alexander Egan","title":"Product and Marketing Advisor","bio":"Alex is a seasoned professional with 10+ years of marketing strategy and product experience, including helping to pioneer the ground-up visual construction and infrastructural design of the lending and investing software at Sharestates.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1226044/square_cropped_Headshots_Alex_v1.jpg?1612193655","profile_url":"https://wefunder.com/alexaegan","linkedin_url":"https://www.linkedin.com/in/alexander-egan/","related_urls":["https://wefunder.com/alexaegan"]},{"id":1226043,"entity_id":"wefunder:company_role:1226043","role":"employee","name":"Josh Castonguay","title":"Vice President of Business Development","bio":"Josh's experience includes working with a team to manage $350 million in assets at Merrill Lynch, developing discretionary trading and proprietary algorithmic models at SMB Capital, and founding a successful trading business: Commercior Capital.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1226043/square_cropped_Headshots_Josh_v1.jpg?1612193655","linkedin_url":"https://www.linkedin.com/in/josh-castonguay-5864ba57/","related_urls":[]},{"id":1226046,"entity_id":"wefunder:company_role:1226046","user_entity_id":"wefunder:user:1184326","role":"employee","name":"Robert Jon Fiondella","title":"Director of Investor Relations","bio":"RJ joined Automatic from the non-profit fundraising sector, bringing in a network of debt and equity investors through his extensive rolodex. He has worked to position the company for future capital raises \u0026amp; enhance stakeholder relationships.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1226046/square_cropped_Headshots_RJ_v1.jpg?1622147394","profile_url":"https://wefunder.com/robertjonfiondella","linkedin_url":"https://www.linkedin.com/in/rj-fiondella/","related_urls":["https://wefunder.com/robertjonfiondella"]},{"id":1403345,"entity_id":"wefunder:company_role:1403345","role":"founder","name":"Pat Sullivan","title":"Director of Underwriting","bio":"Pat is a 28 year veteran of the auto finance industry with valuable knowledge of the ecosystem that is essential to building a successful auto platform. His reputation in the auto industry has helped to build Automatic's growing partnership network.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1403345/square_cropped_Pat-SullivanPSD.jpg?1612193768","linkedin_url":"http://q","twitter_url":"http://","related_urls":[]},{"id":1403297,"entity_id":"wefunder:company_role:1403297","role":"founder","name":"Pat Hansen","title":"National Sales Director","bio":"Pat is an auto finance sales executive who has helped build the footprints of fintech startups and fortune 500 companies alike. In addition to scaling operations, Pat has had an integral role in the creation of several financial products.","avatar_url":"https://uploads.wefunder.com/uploads/company_role/custom_photo/1403297/square_cropped_pat.jpg?1612193655","related_urls":[]}],"featured_investors":[{"id":5124,"entity_id":"wefunder:company_investor_profile:5124","investor_profile_id":51686,"investor_profile_entity_id":"wefunder:investor_profile:51686","subject_entity_id":"wefunder:user:18614","name":"David Weisburd","bio":"Co-Head of Venture Capital @ 10X Capital","avatar_url":"http://uploads.wefunder.com/uploads/user/avatar/18614/medium_cropped_Screen_Shot_2020-10-07_at_2.23.01_PM.jpg","profile_url":"https://wefunder.com/davidweisburd","investment_total":25000,"investment_info":"Invested $25,000 this round","is_lead_investor":true,"related_urls":["https://wefunder.com/davidweisburd"]}],"investor_memos":[],"tab_counts":{"posts":1,"ask_questions":55,"featured_investors":1,"faq_entries":5},"active_fundraises":[{"id":40057,"entity_id":"wefunder:fundraise:40057","state":"successful","offering_type":"506(c)","funding_type":"note","structure":"safe","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":100,"max_purchase":9,"funding_target":250000.0,"funding_started_at":"2020-12-17T05:38:19Z","funding_closed_at":"2020-12-17T05:38:19Z"},{"id":37827,"entity_id":"wefunder:fundraise:37827","state":"successful","offering_type":"4(a)(6)","funding_type":"note","structure":"safe","security_type":"equity","currency":"USD","testing_the_waters":false,"min_purchase":100,"max_purchase":9,"funding_target":50000.0,"funding_started_at":"2020-11-12T14:17:59Z","funding_closed_at":"2021-11-13T05:04:11Z","auto_close_at":"2021-11-13T04:59:59Z"}],"latest_fundraise":{"id":40057,"entity_id":"wefunder:fundraise:40057","state":"successful","offering_type":"506(c)","structure":"safe","testing_the_waters":false,"can_invest_now":false,"funding_started_at":"2020-12-17T05:38:19Z","funding_closed_at":"2020-12-17T05:38:19Z","terms":{"eb":null,"nb":null,"txt":null}},"recent_posts":[{"id":166785,"entity_id":"wefunder:feed_item:166785","type":"FeedItem::Update","visibility":"public","title":"Automatic partners with Dentity for identification verification","preview":"Automatic, has recently announced a strategic partnership with Dentity, a renowned provider of consumer identity verification services. This collaboration aims to tackle the growing issue of consumer fraud in the automotive industry by ensuring that dealerships and lenders have full confidence in the identities of individuals signing closing contracts. Consumer fraud has become a significant concern in today's digital age, with criminals finding increasingly sophisticated ways to deceive busi...","published_at":"2023-12-18T14:55:51Z","author_name":"Eric BURNEY","url":"/feed/166785","canonical_url":"https://wefunder.com/feed/166785"}],"q_and_a":[{"id":136499,"entity_id":"wefunder:comment:136499","question":"The pain point Automatic solves for auto finance is terrific. If one believed in the Ron Conway methodology of investing in \"the team\" with a good idea (and he's had a lot of success) combined with industry/domain leverage then his \"spray it and pray it\" investment style would fit this investment opportunity. The team is in pace, and you have more than a good idea. Where you lose me as an investor is in the valuation. With a startup just beginning to generate revenue, and a value cap at nearly 29X projected 2021 revenues, I find that a bit to rich for the risk/return ratio adjusted to the stage Automatic is in right now. The value cap for the stage of operations, and with a stated need to raise more capital soon, makes me question whether the next round would end up being a down round. For these reasons I'll pass. Wishing you much success.","author_name":"Christopher Telles","votes":9,"created_at":"2021-03-20T06:44:13Z","canonical_url":"https://wefunder.com/automatic#question-136499","answers":[{"id":136745,"entity_id":"wefunder:comment:136745","answer":"Hey Christopher, That is certainly one method of valuing startups and we completely respect each person's approach. As an e-commerce marketplace, Gross Merchandise Volume (GMV) is a more representative and accepted metric. Forbes has even called it \"the holy grail of marketplace metrics.\" Gross Merchandise Volume is a term used in online retailing to indicate the total sales monetary-value for merchandise sold through a particular marketplace over a certain time frame. It is actually how WeFunder has set their valuation for their last round. Here is the link to the Forbes article for your reference: https://www.forbes.com/sites/ryancaldbeck/2015/11/10/how-to-value-online-marketplaces/?sh=1daadb4854fd Using the Comparable Method of startup valuation, the average marketplace valuation multiple of GMV is ~ 2.1x(range of 1.2 to 3.3). Source: https://www.convergencevc.com/resource/find-your-startups-valuation-in-3-easy-steps/. Assuming the average of the range with a 2.1x multiple, Automatic's pre-money valuation of $20M given a March GMV of $900,000(this is a very conservative number for the remainder of March) seems reasonable. $900k x 12month= Annual GMV of $10.8M. $10.8Mx2.1=$22.68M Valuation. GMV only includes the amount of volume our lender network has funded, it is important to note that our potential scope of volume(auto loans being submitted through the platform that we do not have a take out partner for) for March is conservatively $7.5M. We are onboarding three funds that will drastically improve origination volume leading to a larger GMV, therefore a higher valuation. Thank you for your thoughts and consideration Christopher, we appreciate it!","author_name":"Robert Jon Fiondella","votes":5,"created_at":"2021-03-21T17:18:20Z"}]},{"id":172220,"entity_id":"wefunder:comment:172220","question":"https://www.mynews13.com/fl/orlando/business/2021/09/28/used-vehicle-prices-hit-another-record-high","author_name":"Branden Rivera Legrand","votes":3,"created_at":"2021-10-02T18:42:18Z","canonical_url":"https://wefunder.com/automatic#question-172220","answers":[]},{"id":168686,"entity_id":"wefunder:comment:168686","question":"Hi Rob, I hope you and entire Automatic family is doing good. I didn't hear any updates from long time. Looking forward for some exciting updates for the shareholders","author_name":"Ashutosh Goyal","votes":3,"created_at":"2021-09-09T10:27:17Z","canonical_url":"https://wefunder.com/automatic#question-168686","answers":[{"id":168697,"entity_id":"wefunder:comment:168697","answer":"Hey Ashutosh, I will be releasing our Q3 highlights at the beginning of October. Some quick developments to note: A finalized integration with a large global fund will be activated in mid October. Our refactored platform will be launching within the next 30 days. We are in the process of signing up additional Regional Finance Companies to push the platform forward and continue to create a more competitive marketplace. We are attractive to regional lenders because of our expanding footprint of 925+ dealerships. The Automatic platform, in its first year of operation, will have processed well over $100 Million in loan volume. The next 60 days are gearing up to be exciting for Automatic! Thank you for your support!","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2021-09-09T13:52:37Z"}]},{"id":166481,"entity_id":"wefunder:comment:166481","question":"Has there been any thought to convert to a C Corp? With your valuation under 50 Million it would greatly benefit you and investors to have equity considered Qualified Small Business Stock and avoid capital gains tax once it’s time for founders or investors to sell some stock. Great idea by the way. Congratulations on the growth so early in the process. I am considering investing.","author_name":"Albaro Escalera","votes":3,"created_at":"2021-08-28T20:37:44Z","canonical_url":"https://wefunder.com/automatic#question-166481","answers":[{"id":168695,"entity_id":"wefunder:comment:168695","answer":"Hey Albaro, Thank you for the suggestion and your interest! I will certainly bring it to my senior team. RJ","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2021-09-09T13:45:01Z"}]},{"id":160722,"entity_id":"wefunder:comment:160722","question":"Hi Robert, I like the idea of your business! However for evaluating your investment proposal I am missing some key information: What is your annual run rate based on Q2 Revenue or the latest month? Are you experiencing churn with your signed up dealers? If yes how high is it? I had trouble finding any hard revenue numbers and how they map to your financial projections in the pitch deck. I only found comments by you indicating that your \"Revenues are tracking about 30% under our projections\" 2 months ago. Therefore I would appreciate hard an updated numbers. Thank you and best regards Eric","author_name":"E. Frischhut","votes":3,"created_at":"2021-07-31T17:21:14Z","canonical_url":"https://wefunder.com/automatic#question-160722","answers":[{"id":162050,"entity_id":"wefunder:comment:162050","answer":"Hi Eric, Thank you for your patience! Revenue is tracking below our projections as our focus has been on onboarding additional lenders so we can become the Billion dollar company we and our incubating VC 10x Capital know we can be. We are finalizing partnerships that will bring $50 Billion in liquidity to the Automatic platform. We fully believe our revenue numbers will begin to hit projections when these relationships are activated in the next 30-45 days. We have the deal flow coming through today to make us a highly profitable company, we just need these partnerships activated. Thank you for your consideration!","author_name":"Robert Jon Fiondella","votes":2,"created_at":"2021-08-06T16:07:59Z"}]},{"id":136807,"entity_id":"wefunder:comment:136807","question":"Hi Robert, what do investors stand to benefit in participating in this offering?","author_name":"Brandon Dossantos","votes":3,"created_at":"2021-03-22T00:59:05Z","canonical_url":"https://wefunder.com/automatic#question-136807","answers":[{"id":136896,"entity_id":"wefunder:comment:136896","answer":"Hi Brandon, Thank you for your question and interest in Automatic. As with any startup opportunity, investors stand to benefit the chance to make an extremely high multiple on their investment. We are confident at Automatic, with the relationships we have put in place, that this company will skyrocket. We cannot disclose to the general public but there are major partnerships with Automatic that will be activating in the next 45-60 days. Quite frankly, when these partnerships activate, they will boost our Gross Merchandise Volume and revenue significantly, making Automatic worth quite a bit more than the $24M cap on this round. This is the perfect time to get in! The question for you, as an investor, is do you believe in the idea and the team. We are primed for growth, just waiting for the spark to ignite to soar Automatic higher.","author_name":"Robert Jon Fiondella","votes":1,"created_at":"2021-03-22T15:43:15Z"}]},{"id":314511,"entity_id":"wefunder:comment:314511","question":"Centrelink Loans: Financial assistance options for Australians receiving Centrelink payments. https://centrelinkfund.com/furniture-loans-with-centrelink/","author_name":"Afzaal Bhatti","votes":2,"created_at":"2025-09-06T13:49:24Z","canonical_url":"https://wefunder.com/automatic#question-314511","answers":[]},{"id":256992,"entity_id":"wefunder:comment:256992","question":"we need updates please","author_name":"Richard W. Richardson, As Trustee (And His Successor) Of The Richard W. Richardson Declaration Of Trust Dated August 31, 1998, As Amended","votes":2,"created_at":"2023-08-03T16:04:48Z","canonical_url":"https://wefunder.com/automatic#question-256992","answers":[]},{"id":233414,"entity_id":"wefunder:comment:233414","question":"When do you expect share certificates to be transferred to a holding company, like Computershare or Koreconx?","author_name":"Craig Ephraim","votes":2,"created_at":"2023-02-04T15:13:24Z","canonical_url":"https://wefunder.com/automatic#question-233414","answers":[]},{"id":231691,"entity_id":"wefunder:comment:231691","question":"I am trying to update my records with your company address, phone number, and email addresses for Eric Burney, John Liu, and Max Kane. Can you please provide them as your website didn’t have that info on it? Thanks Joe Leistner","author_name":"Joe Leistner","votes":2,"created_at":"2023-01-19T17:29:51Z","canonical_url":"https://wefunder.com/automatic#question-231691","answers":[]},{"id":228335,"entity_id":"wefunder:comment:228335","question":"How can I put my daughter on as a beneficiary with this investment?","author_name":"Allen Hallowell","votes":2,"created_at":"2022-12-12T01:22:18Z","canonical_url":"https://wefunder.com/automatic#question-228335","answers":[{"id":228690,"entity_id":"wefunder:comment:228690","answer":"You would have to speak your financial advisor regarding that. Sorry!","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2022-12-15T14:33:04Z"}]},{"id":198178,"entity_id":"wefunder:comment:198178","question":"How do I change my investment as an individual to a trust?","author_name":"Dena Levenson","votes":2,"created_at":"2022-03-26T07:41:43Z","canonical_url":"https://wefunder.com/automatic#question-198178","answers":[{"id":200607,"entity_id":"wefunder:comment:200607","answer":"I am unsure Dena. Please email help@wefunder.com and maybe they could be of assistance.","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2022-04-11T13:40:45Z"}]},{"id":177813,"entity_id":"wefunder:comment:177813","question":"In response to a prior question you state: \"Our October GMV Valuation is just under $28 Million, $27.98 Million to be more exact. August was $25.39 Million and September was 27.01 Million.\" What revenue will Automatic realize from those numbers?","author_name":"Kevin Hardman","votes":2,"created_at":"2021-11-05T20:38:38Z","canonical_url":"https://wefunder.com/automatic#question-177813","answers":[{"id":178615,"entity_id":"wefunder:comment:178615","answer":"Hey Kevin, Thank you for the question! Right now, in short: The revenue that Automatic will realize from those loan numbers is variable. It always depends on the number of loans that are ultimately funded through our platform by our lender partners. The more lenders on the platform, the more revenue we make through transactional revenue - mainly - a $1.50 per application fee and a 35 basis points on all funded loans. With the onboarding of new lenders within the next 60 days, the number of funded loans (and therefore revenue) will start to increase dramatically. It is then that we will be able to show the full spectrum, auto loan marketplace we envisioned. Today, a large volume of our loans are still being funded by our incubating lender, Anchored Finance. While we are generating revenue (roughly 5-7.5k per month), we should be able to scale revenue quickly once additional lenders have been fully onboarded. We have also decided to hold off on charging any of our dealerships their subscription fee yet. We are sticking with this freemium model until that 49.99 monthly subscription fee makes more sense for a a majority of the dealerships. But, between the launch of the refactored platform (9/27/21) and the onboarding of these additional lenders we believe that we have built a product that is worth the monthly subscription to the dealerships as well. Macro trends in the ecosystem certainly have affected us, but we are well positioned to capitalize when the industry regains inventory norms.","author_name":"Max Kane","votes":0,"created_at":"2021-11-10T15:25:02Z"}]},{"id":177463,"entity_id":"wefunder:comment:177463","question":"1)How many dealerships are in your network presently? 2) Any recent news regarding your increase in funds to increase origination volume? 3) What was Augusts, Septembers, and October’s GMV respectively?","author_name":"Albaro Escalera","votes":2,"created_at":"2021-11-03T23:28:06Z","canonical_url":"https://wefunder.com/automatic#question-177463","answers":[{"id":177511,"entity_id":"wefunder:comment:177511","answer":"Hey Albaro, I hope all is well! 1. We currently have 975 dealerships on the platform. We have partnered with multiple companies that will drastically increase dealership signups on the platform. Tech integrations are under way and can unlock potentially thousands of dealerships quickly. 2. There are certain integrations that will be started upon completion of this round that will double or even triple our current deal flow. These integrations all have down payments just to start integration. 3. Our October GMV Valuation is just under $28 Million, $27.98 Million to be more exact. August was $25.39 Million and September was 27.01 Million. We continue to see a steady rise in application volume despite of the macro trends in the ecosystem(rising used car prices and chip shortage). Thank you for your consideration!","author_name":"Robert Jon Fiondella","votes":1,"created_at":"2021-11-04T13:11:17Z"}]},{"id":172649,"entity_id":"wefunder:comment:172649","question":"I’m not sure if I missed it but I did not see what your revenue is any where. Could you please explain how you make money? Is it through leasing the software or per transaction basis? Please elaborate. Thanks.","author_name":"Az Berhane","votes":2,"created_at":"2021-10-04T22:59:38Z","canonical_url":"https://wefunder.com/automatic#question-172649","answers":[{"id":172713,"entity_id":"wefunder:comment:172713","answer":"Good Morning Az, It is actually a little bit of both. We have a monthly subscription fee to dealerships(currently being waived to facilitate dealership signups) as well as the per transaction revenue that is charged to the lenders. We also have relationships with large F\u0026amp;I providers that pay Automatic for funded leads. We are revenue generating but we have a few large global funds onboarding in the next 60 days that should quickly accelerate funded loan volume. At that point, we will have competitive programs for every credit tier, making us more attractive to new and existing dealerships. Thank you for your interest Az!","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2021-10-05T14:01:31Z"}]},{"id":163308,"entity_id":"wefunder:comment:163308","question":"Hi there! I just invested in the company and would be real interested in using Automatic to help my side hustle moving used autos. Do you support ventures of all sizes or is there a minimum sales volume?","author_name":"Steven Alexander Littaua","votes":2,"created_at":"2021-08-13T05:03:16Z","canonical_url":"https://wefunder.com/automatic#question-163308","answers":[{"id":163333,"entity_id":"wefunder:comment:163333","answer":"Hey Steven, Thank you for your investment! We do support ventures of all sizes. Please email kristy@automaticusa.co and she can walk you through the sign up process and see if we can get you onboarded.","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2021-08-13T13:04:57Z"}]},{"id":163030,"entity_id":"wefunder:comment:163030","question":"Can you also finance private RV buyers?","author_name":"Terry Stott","votes":2,"created_at":"2021-08-11T15:15:30Z","canonical_url":"https://wefunder.com/automatic#question-163030","answers":[{"id":163031,"entity_id":"wefunder:comment:163031","answer":"Hey Terry, The Automatic platform is fully equipped to handle RV inventory. Our pool of debt buyers do some RV financing but that would be on a case by case basis. Thank you for your interest!","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2021-08-11T15:21:10Z"}]},{"id":161786,"entity_id":"wefunder:comment:161786","question":"Hi Robert, I was wondering why you did not react to my earlier question at all. Did you just not notice my question yet or was it a deliberate choice not to answer questions regarding precise revenue numbers? Thank you and best regards Eric","author_name":"E. Frischhut","votes":2,"created_at":"2021-08-05T16:22:16Z","canonical_url":"https://wefunder.com/automatic#question-161786","answers":[{"id":161788,"entity_id":"wefunder:comment:161788","answer":"Hi Eric, I have noticed it and am working on my response to your questions. Thank you for your patience and consideration! Apologies for the delay, in the process of bringing on additional liquidity players for the platform and have not been on WeFunder. Will have your answer shortly. Thank you!","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2021-08-05T17:14:04Z"}]},{"id":156018,"entity_id":"wefunder:comment:156018","question":"Hi any updated financial info? The last post regarding that is about 6 months old and I believe my investment hinges on future valuation.","author_name":"Andi Grant","votes":2,"created_at":"2021-07-02T21:42:13Z","canonical_url":"https://wefunder.com/automatic#question-156018","answers":[{"id":156365,"entity_id":"wefunder:comment:156365","answer":"Hi Andi, I hope all is well! Things are progressing well and we will be posting periodic updates on our progress. Our focus remains on signing up dealerships(almost 800) and onboarding additional lenders. I am finalizing our Quarterly analysis and will be uploading that when finished. Thank you for your support Andi, we truly appreciate it!","author_name":"Robert Jon Fiondella","votes":1,"created_at":"2021-07-05T21:59:54Z"}]},{"id":145526,"entity_id":"wefunder:comment:145526","question":"Hi, does Automatic own all the IP in the platform? Does Signal Auto Brokers have any interest in it? I ask because you state the platform was developed with Signal. Thank you.","author_name":"Jonathan Harshman","votes":2,"created_at":"2021-04-28T06:16:53Z","canonical_url":"https://wefunder.com/automatic#question-145526","answers":[{"id":145550,"entity_id":"wefunder:comment:145550","answer":"Hey Jonathan, I hope all is well! We own all of our IP. Signal Auto Broker is the Regional Finance Lender that was utilized in order to incubate the project. Thank you for your question and investment! RJ","author_name":"Robert Jon Fiondella","votes":2,"created_at":"2021-04-28T13:19:46Z"}]},{"id":143708,"entity_id":"wefunder:comment:143708","question":"I tried investing, but when I tried to input an amount it's not going in. Is the investment opportunity closed?","author_name":"Katz Rosal","votes":2,"created_at":"2021-04-22T01:31:42Z","canonical_url":"https://wefunder.com/automatic#question-143708","answers":[{"id":143711,"entity_id":"wefunder:comment:143711","answer":"Hi Katherine! Thank you for your interest! It is not closed. Reach out to hello@wefunder.com and they can assist.","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2021-04-22T01:39:26Z"}]},{"id":143682,"entity_id":"wefunder:comment:143682","question":"How much are you planning to raise?","author_name":"Ryan LANE","votes":2,"created_at":"2021-04-21T20:40:01Z","canonical_url":"https://wefunder.com/automatic#question-143682","answers":[{"id":143786,"entity_id":"wefunder:comment:143786","answer":"Hey Ryan, Thank you for the question! The overall raise is $4 Million. We have larger institutional investors that will be coming in through a Reg D filing under the same terms set on WeFunder.","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2021-04-22T13:15:34Z"}]},{"id":143631,"entity_id":"wefunder:comment:143631","question":"How does CarMax perform the functions you do?","author_name":"Kalman Kaplan","votes":2,"created_at":"2021-04-21T15:49:10Z","canonical_url":"https://wefunder.com/automatic#question-143631","answers":[{"id":143646,"entity_id":"wefunder:comment:143646","answer":"Hey Kalman! Thanks for your question. CarMax is a B2C company, where they are appealing straight to the consumer. They are a gigantic online dealership similar to Carvana or Vroom. That is not what Automatic is. Automatic is a B2B platform that connects the dealers(on behalf of the customer) with our lending and ancillary product network. We sign up the dealerships directly where CarMax is the dealership. There would be nothing stopping us from partnering with CarMax to unlock Automatic's lending network to their customers in the future.","author_name":"Robert Jon Fiondella","votes":1,"created_at":"2021-04-21T16:44:31Z"}]},{"id":141317,"entity_id":"wefunder:comment:141317","question":"Why has my money not taken out of my bank account yet ?","author_name":"Allen Hallowell","votes":2,"created_at":"2021-04-12T19:50:13Z","canonical_url":"https://wefunder.com/automatic#question-141317","answers":[{"id":141322,"entity_id":"wefunder:comment:141322","answer":"Hey Allen, Email hello@wefunder.com and they can assist. Thank you for your investment!","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2021-04-12T20:05:01Z"}]},{"id":141087,"entity_id":"wefunder:comment:141087","question":"Hi, what’s the funding limit for this round? I’m wondering because I don’t want to invest if the round is already oversubscribed. Thanks!","author_name":"Timothy Hess","votes":2,"created_at":"2021-04-11T00:13:23Z","canonical_url":"https://wefunder.com/automatic#question-141087","answers":[{"id":141142,"entity_id":"wefunder:comment:141142","answer":"Hey Timothy, The round is not oversubscribed. We also have a RegD open that we can move accredited investors to. Thank you for your consideration, we appreciate it!","author_name":"Robert Jon Fiondella","votes":0,"created_at":"2021-04-11T13:58:53Z"}]}],"faq":[{"question":"Were salaries imputed in arriving at net income? If not why not? If not what wotuld the number be utilizing US GAAP?","answer":"Hey Robert, Great question! Yes, salaries were accounted for."},{"question":"Hi. What was your revenue for 2020? Can you expand your projections to 2025? Also, is your product a good fit for major new and used car dealers or is your focus strictly on independent dealers?","answer":"Hi Leonardo, I hope all is well. We have been quite busy building the business and sourcing private funding to fill the remainder of the tranche. Thanks for your patience. Regarding revenue projection: To share a five year projection in a rapidly changing industry would be a disservice to you. We have three year projected financials in our pitch deck, that you can reference and project to 5 years as a guide. Regarding your question on product fit: Yes, our platform is fully scalable to the ma..."},{"question":"Hi, I like what your company is doing and clearly there is a need. Are you only targeting the used car industry and is so why not include the new car industry at some point. At some point would you try to go global? Thanks","answer":"Hey Tim, Great questions! Regarding why Independent Used Car Dealers: We believe the independent dealer used car industry provides the highest ROI/lowest hanging fruit. The Independent Used Car dealer is incredibly underserved with a $288 Billion a year space. Also, macro conditions driving used car purchases, as described in our pitch deck, are stronger than new cars. We do have plans to expand into Franchise dealers for their used cars later this year, which may eventually lead to business ..."},{"question":"What am I getting for early bird investing? Equity? Loan? What's the value of the stock I'm purchasing? My apologies if I missed it.","answer":"Mario, All of these answers can be found in our SAFE document, click the green invest button and it will be located under contracts. Take a look at it and if you still have questions, I am happy to assist."},{"question":"I am an accredited investor; can my funds be transferred to Reg D? I didn't see an option to select while investing.","answer":"Hey Maulin, I hope all is well! Thank you for your investment into Automatic! All investments from the WeFunder community are going through the Reg CF. The Reg D is strictly being used for F\u0026amp;F at this time."}]}}}