AutoGravity Corp. has another lender on its car-shopping app.
The Irvine-based firm added Global Lending Services LLC, a sub-prime lender based in Greenville, S.C., to its offerings. Recent agreements have been with car manufacturer finance arms—Hyundai Capital in September and VW Credit in July.
Its local car makers and merchants include Hyundai Motor America in Fountain Valley and several locations of Fletcher Jones Motorcars, based in Newport Beach.
AutoGravity is backed by about $50 million in venture capital and lending from affiliates of Daimler AG in Germany and led by Chief Executive Andreas Hinrichs, a former executive with Daimler Financial Services.
VW Credit Inc. kicked in a $30 million investment in the company when it came onboard in July with its car-selling and -financing work.
AutoGravity facilitates car-buying for car shoppers who check their phones and browsers before anything else, a release said.
It said 100,000 people download its app monthly and 2,000 dealerships are accessible via the software.
Global Lending Services is backed by Blue Mountain Capital Management in New York and has worked with 21,000 auto dealerships, a release said.