EFTA00807393.pdf

Generated by PitchBook for Richard Kahn, HBRK tpitchBook Last Updated: 08•Jan•2019 Associates AutoFi I Private Company Profile General Information pblD: 152767-81 Description Developer of a online auto financing platform designed to help prospective car buyers purchase and finance vehicles from a dealership's website. The company's online auto financing platform connects car buyers to authorized dealerships and lenders to automate the car buying process through the mobile application, including vehicle selection and financing process, enabling auto buyers to finance and purchase vehicles online in minutes. Most Recent Financing Status (as of 07-Dec-2018) The company raised $11.5 million Series A of venture funding from Crosslink Capital, Hard Yaka Lerer Hippeau Ventures, Ford Motor Credit, Santander InnoVentures and other undisclosed investors on February 14, 2018. The funds will be used to grow beyond Ford Credit and expand into international markets. Entity Type Private Company Year Founded 2014 Website www.autofi.com Universe Venture Capital Legal Name AutoFi, Inc. Primary Industry Financial Software Business Status Generating Revenue Other Industries Vertical Market Software Ownership Status Privately Held (backing) Verticals FinTech, Mobile, SaaS, TMT Financing Status Venture Capital-Backed Employees 17 Contact Information Primary Contact Primary Office Kevin Singerrnan 444 De Haro Street Co-Founder, Chief Executive Officer & Board Member Suite 220 San Francisco, CA 94107 Phone: United States Phone: Top 5 Similar Companies # Name Competitor Financing HQ Growth Size Last Financing Last Financing Status Location Rate Multiple Date/Type Amount 1 Octane Venture New York, 0.12% 2.64x 2018/Series B $13.45M Lending Capital- NY Backed 2 LendTech Venture San -0.06% 0.53x 2017/Accelerator/Inc 50.02M Capital- Francisco, Backed CA 3 Nimble Private Southport, -0.06% 0.64x 2016/Unsecured $20.00M Australia Equity- Australia Debt Backed EFTA00807393 4 Payfare Corporation 0.00% 0.35x 5 B+m Private Melsdorf, -0.10% 1.91x 2015/Buyout/LBO Informatik Equity- Germany Backed Comparisons AutoFi Octane Lending ' LendTech til, Nimble Australia Description Developer of a online Developer of a point of Provider of a loan point of Developer of mobile auto financing platform sales financing sale platform designed for application for online designed to help platform created to banks, credit unions and lending services. prospective car buyers simplify power-sports private lenders. purchase and finance financing process. vehicles from a dealership's website. Primary Industry Financial Software Financial Software Vertical Market Software Vertical Market Software HQ Location San Francisco, CA New York, NY San Francisco, CA Southport, Australia Employees 17 I 2017 6 I 2016 20 I 2018 86 I 2015 Total Raised 531.00M 569.14M $0.02M $41.50M Post Valuation 566.50M I 14-Feb-2018 5128.45M I 29-May- $0.33M I 01-Jun-2017 2018 Last Financing 511.50M 12018/Early 513.45M 12018/Early $0.02M I $20.00M Details Stage VC (Series A) Stage VC (Series B) 2017/Accelerator/Incubator 2016/Unsecured Debt Current Executives (5) Name Title Board Office Phone Email Seats Kevin Singerrylan Co-Founder, Chief 1 San Francisco, +1 (888) 447-9360 Executive Officer & CA Board Member Mandar Gokhale Co-Founder & Chief San Francisco, +1 (888) 447-9360 Technology Officer CA Chris Trailer Chief Architect & San Francisco, +1 (888) 447-9360 Chief Information CA Security Officer Jonathan Schenk Chief Revenue San Francisco, +1 (888) 447-9360 Officer CA Steve Vines Director, Sales San Francisco, +1 (888) 447-9360 [email protected] CA EFTA00807394 Current Board Members (2) Name Title Representing Role Since Phone Email David Partner Crosslink Capital Board Oct Silverman Member 2015 JD Kevin Co-Founder, Chief AutoFi Co- Jul Singerman Executive Officer Founder, 2015 & Board Member Chief Executive Officer & Board Member Deal History (4) # Deal Type Date Amount Raised to Pre-Val Post-Val Status Stage Date 4. Early Stage VC 14-Feb- $11.50M 531.00M 555.00M 566.50M Completed Generating (Series A) 2018 Revenue 3. Corporate 23-Jan-2017 519.50M Completed Generating Revenue 2. Seed Round 23-May- $17.00M $19.50M 518.64M $21.46M Completed Startup 2016 1. Seed Round 15-Oct- $2.50M $2.50M 58.76M $11.26M Completed Startup 2015 t Indicates an Add-On E Estimated CAP TABLE HISTORY (as of 14-Feb-2018) Stock # Of Shares Par Original Liquidation Liquidation Conversion Authorized Value Issue Price Pref. Multiple Price Owned Series 3,464,509 50.000100 53.42 $3.42 lx $3.42 15.38% A Seed- 2,427,838 50.000100 51.48 $1.48 lx $1.48 12.78% 1 Seed 2,835,000 50.000100 50.90 $0.90 lx $0.90 14.92% Series Terms for: A, Seed, Seed-1(as of 14-Feb-2018) Participating vs. Non- Non-participating Cumulative/Non- Non-Cumulative participating cumulative Dividend Rights Yes Anti-dilution Provisions Weighted Average Redemption Rights No Board Voting Rights Yes General Voting Rights Yes EFTA00807395 Deal #4: Early Stage VC (Series A), $11.5M, Completed; 14-Feb-2018 VC Round 3 Round Financing Venture Capital- Total $11.50M Deal Types Early Stage VC, Status Backed Invested Series A Financing Venture Capital Capital Deal Amount $11.50M Source Pre-money $55.00M Raised to Date Valuation Deal Status Completed $31.00M " Post $66.50M Deal Date 14-Feb-2018 Total Invested $11.50M Valuation Equity Announced 22-Jun-2017 CEO/Lead Kevin Date Investor 43.09% Mgt Singerman Ownership Site San Stock Split 1:1 Francisco, CA Business Generating Status Revenue Deal Synopsis The company raised $11.5 million Series A of venture funding from Crosslink Capital, Hard Yaka Lerer Hippeau Ventures, Ford Motor Credit, Santander InnoVentures and other undisclosed investors on February 14, 2018. The funds will be used to grow beyond Ford Credit and expand into international markets. t Not necessarily a summation ofindividual debt figures "Includes .514.18M of known debt; Does not include grant funding E Estimated Stock Info + Cap Table History Type of Stock Preferred Conversion Ratio 1 Series of Stock A Shares Sought 3,464,509 Price Per Share $3.42 Price Per Share calculated using the Weighted Average Method SERIES A TERMS Participating vs. Non- Non-participating Cumulative/Non- Non-Cumulative participating cumulative Dividend Rights Yes Anti-dilution Provisions Weighted Average Redemption Rights No Board Voting Rights Yes General Voting Rights Yes CAP TABLE HISTORY Stock # Of Shares Par Original Liquidation Liquidation Conversion Authorized Value Issue Price Pref. Multiple Price Owned Series 3,464,509 50.000100 53.42 $3.42 lx $3.42 15.38% A Seed- 2,427,838 50.000100 51.48 $1.48 lx $1.48 12.78% 1 Seed 2,835,000 50.000100 50.90 $0.90 lx $0.90 14.92% Investors (4) Investor Name Status Lead/Sole Comments EFTA00807396 1. Crosslink Capital Follow-On No Lead Partner: David Silverman JD Investor Form of Payment: Cash Fund 1: Crosslink Ventures VII 2. Hard Yaka New Investor No Form of Payment: Cash 3. Lerer Hippeau Ventures Follow-On No Form of Payment: Cash Investor Fund 1: Lerer Hippeau Ventures CS 4. Santander InnoVentures New Investor No Form of Payment: Cash Fund 1: Santander InnoVentures Fund E Estimated Advisors (1) # Advisor Name Service Type Hired By Comments 1. Fenwick & West Legal Advisor AutoFi Tranches (2) Tranche Date Amount Financing Type Comments 1. 23-Aug-2017 510.OOM Early Stage VC Stock Type: Preferred Tranche Size Actual Status: Stock Series A Type: 2. 14-Feb-2018 51.50M Early Stage VC Stock Type: Preferred Tranche Size Actual Status: Stock Series A Type: Deal #3: Corporate, Completed; 23-Jan-2017 Deal Types Corporate Financing Venture Capital- CEO/Lead Kevin Deal Status Completed Status Backed Mgt Singerman Deal Date 23-Jan-2017 Financing Corporate Site San Francisco, Source CA Raised to $19.50M " Business Generating Date Status Revenue EFTA00807397 Deal Synopsis The company received an undisclosed amount of financing from Ford Motor Credit on January 23, 2017. Not necessarily a summation of individual debt figures ' Includes $14.18M of known debt; Does not include grant funding Estimated Advisors (1) # Advisor Name Service Type Hired By Comments 1. Financial Technology Partners Advisor: AutoFi General Deal #2: Seed Round, $17M, Completed; 23-May-2016 VC Round 2 Round Financing Venture Capital- Total $17.00M Deal Types Seed Round Status Backed Invested Financing Venture Capital Capital Deal Amount $17.00M Source Pre-money $18.64M Deal Status Completed Valuation Total New Debt $14.18M Deal Date 23-May-2016 Post $21.46M Raised to Date $19.50M % Acquired 13.13% Valuation Total Invested $2.82M CEO/Lead Mgt Kevin Equity Singerman Investor 32.72% Site San Ownership Francisco, Stock Split 1:1 CA Business Startup Status Deal Synopsis The company raised 517 million of Seed-2 funding from lead investor Crosslink Capital on May 23, 2016, putting the company's pre-money valuation at 518.64 million. Lerer Hippeau Ventures, Bruce Toll, Eniac Ventures, Silicon Valley Bank and other undisclosed investors also participated. The round included a $14.18 million debt portion. The company will use funds to scale the company's online point of sale financing solution at participating dealers. I Not necessarily a summation ofindividual debt figures "Includes $14.18M of known debt Does not include grant funding E Estimated Stock Info + Cap Table History Type of Stock Preferred # of Shares Acquired 1,899,772 Shares Sought 2,427,839 Conversion Ratio 1 Price Per Share 51.48 Shares Sought and Price Per Share calculated using the Weighted Average Method SEED-1 TERMS Participating vs. Non- Non-participating Cumulative/Non- Non-Cumulative participating cumulative Dividend Rights Yes Anti-dilution Provisions Weighted Average Redemption Rights No Board Voting Rights Yes General Voting Rights Yes CAP TABLE HISTORY EFTA00807398  Stock # Of Shares Par Original Liquidation Liquidation Conversion Authorized Value Issue Price Pref. Multiple Price Owned Seed- 2,427,839 $0.000100 $1.48 $1.48 lx $1.48 13.13% 1 Seed 2,835,000 $0.000100 $0.90 $0.90 lx $0.90 19.59% Investors (6) Investor Name Status Lead/Sole Comments 1. Alrai Capital New Investor No Form of Payment: Cash 2. Bruce Toll New Investor No Lead Partner: Bruce Toll Form of Payment: Cash 3. Crosslink Capital Follow-On Yes Lead Partner: David Silverman JD Investor Form of Payment: Cash Fund 1: Crosslink Ventures VII 4. Eniac Ventures New Investor No Form of Payment: Cash Fund 1: Eniac Special Beta 5. Lerer Hippeau Ventures Follow-On No Form of Payment: Cash Investor Fund 1: Lerer Hippeau Ventures CS 6. Silicon Valley Bank New Investor No Form of Payment: Cash E Estimated Lenders & Debt Financings (0) Debt Summary Total New Debt $14.18M Not necessarily a summation of individual debt figures) Other Debt $14.18M Deal #1: Seed Round, $2.5M, Completed; 15-Oct-2015 EFTA00807399 VC Round 1 Round Financing Venture Capital- Total Invested $2.50M Deal Types Seed Round Status Backed Capital Deal Amount $2.50M Financing Venture Capital Pre-money $8.76M Source Valuation Deal Status Completed Raised to Date $2.50M Post $11.26M Deal Date 1S-Oct-2015 Valuation Total Invested $2.50M % Acquired 22.20% Equity CEO/Lead Mgt Jonathan Palan Investor 22.20% Ownership Site San Francisco, Stock Split 1:1 CA Business Startup Status Deal Synopsis The company raised $2.5 million of seed funding in a deal led by Crosslink Capital on October 15, 2015, putting the company's pre-money valuation at $8.76 million. Follow on Sandy Cass, ZenStone Venture Capital, 500 Startups, Laconia Ventures, FJ Labs, Fabrice Grinda, Basset Investment Group and Lerer Hippeau Ventures also participated in the round. F Not necessarily a summation ofindividual debt figures "Does not include grant funding E Estimated Stock Info + Cap Table History Type of Stock Preferred # of Shares Acquired 2,778,087 Series of Stock Seed Conversion Ratio 1 Shares Sought 2,835,004 Price Per Share $0.90 Price Per Share calculated using the Weighted Average Method SEED TERMS Participating vs. Non- Non-participating Cumulative/Non- Non-Cumulative participating cumulative Dividend Rights Yes Anti-dilution Provisions Weighted Average Redemption Rights No Board Voting Rights Yes General Voting Rights Yes CAP TABLE HISTORY Stock # Of Shares Par Original Liquidation Liquidation Conversion Authorized Value Issue Price Pref. Multiple Price Owned Seed 2,835,004 $0.000100 $0.90 $0.90 lx $0.90 22.20% Investors (11) Investor Name Status Lead/Sole Comments 1. 500 Startups New Investor No Form of Payment: Cash Fund 1: 500 Startups III 2. Basset Investment Group New Investor No Form of Payment: Cash EFTA00807400 3. Crosslink Capital New Investor Yes Lead Partner: David Silverman JD Form of Payment: Cash Fund 1: Crosslink Ventures VII 4. Fabrice Grinda New Investor No Lead Partner: Fabrice Grinda Form of Payment: Cash Fund 1: Fabrice Grinda T8F 5. FJ Labs New Investor No Form of Payment: Cash 6. Laconia Capital Group New Investor No Form of Payment: Cash 7. Lerer Hippeau Ventures New Investor No Form of Payment: Cash Fund 1: Lerer Hippeau Ventures CS 8. Max Ventures New Investor No Form of Payment: Cash 9. Paul Holliman New Investor No Lead Partner: Paul Holliman Form of Payment: Cash 10. Sandy Cass New Investor No Lead Partner: Sandy Cass Form of Payment: Cash 11. ZenStone Venture Capital New Investor No Form of Payment: Cash E Estimated Investors (17) Active Investors (17) Name Investor Type Holding Investor Board Related Deals Since Hard Yaka Venture Capital Minority Feb 2018 #4. Early Stage VC (Series A): New Investor, Feb 2018, $11.50M Santander Corporate Venture Minority Feb 2018 #4. Early Stage VC (Series A): New InnoVentures Capital Investor, Feb 2018, $11.50M Alrai Capital Venture Capital Minority May #2. Seed Round: New Investor, May 2016 2016, $17.00M Bruce Toll Angel Group Minority May #2. Seed Round: New Investor, May 2016 2016, Bruce Toll, $17.00M EFTA00807401 Eniac Ventures Venture Capital Minority May #2. Seed Round: New Investor, May 2016 2016, $17.00M Silicon Valley Bank Lender/Debt Provider Minority May #2. Seed Round: New Investor, May 2016 2016, $17.00M 500 Startups Accelerator/Incubator Minority Oct 2015 #1. Seed Round: New Investor, Oct 2015, $2.50M Basset Investment Venture Capital Minority Oct 2015 #1. Seed Round: New Investor, Oct Group 2015, $2.50M Crosslink Capital Venture Capital Minority Oct 2015 1 #1. Seed Round: New Investor, Oct 2015, David Silverman JD, $2.50M #2. Seed Round: Follow-on, May 2016, David Silverman JD, $17.00M #4. Early Stage VC (Series A): Follow-on, Feb 2018, David Silverman JD, $11.50M Fabrice Grinda Angel (individual) Minority Oct 2015 #1. Seed Round: New Investor, Oct 2015, Fabrice Grinda, $2.50M FJ Labs Venture Capital Minority Oct 2015 #1. Seed Round: New Investor, Oct 2015, $2.50M Laconia Capital Group Venture Capital Minority Oct 2015 #1. Seed Round: New Investor, Oct 2015, $2.50M Lerer Hippeau Venture Capital Minority Oct 2015 #1. Seed Round: New Investor, Oct Ventures 2015, $2.50M #2. Seed Round: Follow-on, May 2016, $17.00M #4. Early Stage VC (Series A): Follow-on, Feb 2018, $11.50M Max Ventures Venture Capital Minority Oct 2015 #1. Seed Round: New Investor, Oct 2015, $2.50M Paul Holliman Angel (individual) Minority Oct 2015 #1. Seed Round: New Investor, Oct 2015, Paul Holliman, $ 2.50M Sandy Cass Angel (individual) Minority Oct 2015 #1. Seed Round: New Investor, Oct 2015, Sandy Cass, $2.50M ZenStone Venture Venture Capital Minority Oct 2015 #1. Seed Round: New Investor, Oct Capital 2015, $2.50M Service Providers General Service (1) EFTA00807402 Service Provider Name Service Provided Comments Fenwick & West Legal Advisor Service on a Deal (2) Service Provider Service Provided Service To Deal Date Deal Comments Name Fenwick & West Legal Advisor AutoFi 14-Feb- 4 2018 Financial Technology Advisor: General AutoFi 23-Jan-2017 3 Partners Lead Partners on Deals (7) Investors (7) Name All Title Representing Deals Phone Email Deals David Silverman JD 24 Partner Crosslink Capital #4. Early Stage VC (Series A): Feb 2018, $11.50M, Completed Bruce Toll 1 Angel Investor Bruce Toll #2. Seed Round: May 2016, $17.00M, Completed David Silverman JD 24 Partner Crosslink Capital #2. Seed Round: May 2016, $17.00M, Completed David Silverman JD 24 Partner Crosslink Capital #1. Seed Round: Oct 2015, $2.50M, Completed Fabrice Grinda 129 Angel Investor Fabrice Grinda #1. Seed Round: Oct 2015, $2.50M, Completed Paul Holliman 107 Angel Investor Paul Holliman #1. Seed Round: Oct 2015, $2.50M, Completed Sandy Cass 10 Angel Investor Sandy Cass #1. Seed Round: Oct 2015, $2.50M, Completed Signals Summary This company has a weekly growth rate of 0.44%, placing it in the 94th percentile of all growth rates tracked within PitchBook. Its underlying data points generate a size multiple that is 0.81x times larger than the median of all size multiples tracked within PitchBook, placing it in the 46th percentile of all size multiples tracked within PitchBook. EFTA00807403 Growth Rate Summary (Weekly) Size Multiple Summary (x Median) Twitter Followers Social Twitter Followers Social 160 1.23% 160 0.23x Similar Web Unique Visitors 0.44% Similar Web Unique Visitors 0.81x Of<wtrt PS.° Sac ?AuItole 203 203 Web Web -0.34% 1.39x Majestic Referring Domains Majestic Referring Domains 82 82 Signals History Growth Rate History Size Multiple History 6.0 5.0 4.0 2.0 0.0 0 .4.0 Sep'18 Oct'18 Nov18 Dec 18 Jan 19 Feb '19 Sep'18 Oct'18 Nov 1 8 Dec '18 Jan '19 Feb '19 m GrowthRate — Web Growth Rate — Sze Multiple Web Size Multiple Social Growth Rate Social Size Multiple Social Media Signals EFTA00807404  Twitter Followers 160 180 143 101 70 Sep'18 Oct'18 Nov '18 Dec'18 Jan'19 Feb'19 Tritter Followers Calculation Range 0 Metric AutoFi All Companies Average Twitter Followers 160 11,958 Growth Rate 2.45% 0.10% Growth Rate 100th 44th Percentile Size Multiple 0.45x 34.0x Size Multiple 36th 50th Percentile Web Signals SimilarWeb Unique Visitors 203 Majestic Referring Domains 82 b5 Sep'18 Oct'18 Nov •18 Dec Jan'19 Feb'19 Sep'18 Oct'18 Nov '18 Dec'18 Jan'19 Feb'19 Unique Visitors Calculation Range 0 Refening Domains Calculation Range 0 Metric AutoFi All Metric AutoFi All Companies Companies Average Average SimilarWeb Unique 203 21,451 Majestic Referring 82 365 Visitors Domains Growth Rate -0.68% -0.55% Growth Rate -0.01% Growth Rate 28th 39th Growth Rate 11th 23rd Percentile Percentile Size Multiple 0.28x 39.2x Size Multiple 2.50x 10.8x Size Multiple 21st 50th Size Multiple 70th 50th Percentile Percentile Ranking And Distribution Weekly Growth 0.44%, 94th %ile EFTA00807405  44.0% 497% Decline/Flat • Steady IMI Growing Fast Rapid I AutoFi Percentile Min Rate Max Rate Avg. Rate 0-10 -44.0% -0.16% -1.34% 10-20 -0.15% 0.00% -0.01% 20-30 30-40 40-50 50-60 60-70 70-80 0.01% 0.03% 0.02% 80-90 0.04% 0.26% 0.13% 90-100 0.27% 497% 1.21% Size Multiple 0.81x, 46th %ile 0 10 50 90 100 0.00x 1.00x 131lCx XSmall Small Average Large X Large I AutoFi Percentile Min Size Max Size Avg. Size 0-10 0.00x 0.12x 0.07x 10-20 0.13x 0.26x 0.20x 20-30 0.27x 0.44x 0.36x 30-40 0.45x 0.65x 0.55x 40-50 0.66x 0.99x 0.81x 50-60 1.00x 1.49x 1.22x 60-70 1.50x 2.35x 1.88x 70-80 2.36x 4.15x 3.12x 80-90 4.16x 10.7x 6.59x 90-100 10.7x 131Kx 117x EFTA00807406 Employee Signals Company Employee Growth Rate Growth Size Multiple Size Count Percentile Percentile AutoFi 17 All Companies Average 2.626 0.28% 49th 22.6x 50th Indeed Current Job Openings: 4 Openings by Department 6 .1 2 0 iul '18 Auo '18 Seo '18 Oct '18 Dec 18 Ian 19 Feb '19 • Administration/Operations • Engineering • Marketing/PR • Product • Sales FEBRUARY 2019 Department Open Jobs % Change lm % Change 3m % Change 6m % Change ly Sales 2 • 33.33% Marketing/PR 1 0.00% — — — Engineering 1 0.00% • 50.00% — — Administration/Operations 0 - • 100.00% — — Product 0 - V 100.00% — — Summary 4 V 20.00% 0.00% — — Company signals data was calculated against 843794 companies within all companies. Company Signds Population: Company Signals data is tracked for active companies (i.e. have not gone out of business) that haven't been exited from VC, PE, or Incubator/Accelerator. Social media presence is tracked only for companies that have a Twitter account; web presence is tracked only for companies whose websites are tracked by SimilarWeb and Majestic. News Car finance fintech closes $10m Series A AutoFi raises money from existing investo