FRESNO, Calif., October 25, 2022–(BUSINESS WIRE)–Credit score Bureau Connection (“CBC” or “the Corporate”), a supplier of credits document and compliance answers to automobile sellers, lenders, and different finish markets, nowadays introduced the purchase of CreditDriver Answers, a comfortable credits era supplier providing lead technology and gross sales enablement gear. Founder and CEO Michael Byrd will sign up for CBC as Senior Vice President of Gross sales. CBC is subsidized by way of Capstreet, a Houston-based decrease center marketplace non-public fairness company. Phrases of the transaction weren’t disclosed.
CreditDriver Answers’ number one product is CreditDriver, a mobile-first shopper authentication and prequalification resolution for the automobile credits trade. CreditDriver’s Software ID makes use of cellular service information to authenticate a shopper’s identification, taking into consideration real-time pre-fill of shopper information and speedy supply of related credits information, together with their present automobile tradeline and per month fee energy. Customers take pleasure in a frictionless and safe enjoy to get prequalified inside of seconds, whilst sellers recuperate visibility into their shoppers’ profiles. This permits them to extra simply establish the most efficient cars for acquire and nearly gets rid of virtual fraud and identification robbery at step one. A secondary product, ApplicantOne, is helping sellers and corporations rent extra certified candidates by way of automating the hiring procedure.
“Increasing our era portfolio is a concern for us, and CreditDriver’s state of the art era creates price drivers right through the car gross sales procedure and is emblematic of our dedication to innovation,” mentioned David Carner, CEO of CBC. “I’m desperate to welcome Mike and his skilled crew to the Corporate.”
“Our answers lend a hand sellers build up gross sales by way of higher figuring out shoppers who’re prequalified and recently out there for a brand new automobile,” mentioned Mr. Byrd. “Becoming a member of forces with CBC supplies us with further assets for expansion, and I’m excited to look CreditDriver integrated into an end-to-end procedure from lead technology via compliance to of completion.”
“This acquisition items a compelling funding alternative for CBC,” added Rick Pleczko, CEO, Running Govt Staff at Capstreet and Govt Chair at CBC. “CreditDriver’s credit-building white-label resolution has attainable packages past the automobile marketplace, and we’re occupied with imaginable expansion alternatives.”
Willkie Farr & Gallagher LLP equipped prison recommend, whilst Deloitte acted as monetary consultant, for CBC.
CBC gives credits document and compliance answers to the automobile and common shopper finance industries throughout america. The Corporate optimizes and automates the shopper finance qualification procedure via a quick, easy-to-use, and safe instrument platform made to be had to its in depth community of instrument associate companions. CBC’s merchandise and answers position a heavy emphasis on compliance and identification verification to toughen the credits utility and credits document procedure. Please consult with www.creditbureauconnection.com for more information.
Based in 1990, Capstreet invests in decrease center marketplace instrument, tech-enabled services and products, and commercial trade services and products firms. With over 45 platform investments and over 200 add-on acquisitions since inception, Capstreet’s funding technique is all for using its Capvalue Framework™ to lend a hand boost up expansion and profitability, and lend a hand create longer term sustainable companies. Nearly all of Capstreet’s investments had been with founder- or entrepreneur-owned companies. For more info, consult with the Capstreet site, www.capstreet.com.
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