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Repeat backer Valar Ventures led the raise, which included participation from Upper90, Huntington National Bank, Camping World, Holler-Classic Family and others. Half of the raise was primary financing, and the other half went toward a secondary share sale to provide existing shareholders, including current and former employees, liquidity, according to CEO and co-founder Jason Guss.
“Captive-as-a-Service brings together technology, underwriting, loan processing and servicing, and capital markets execution in a single platform under the partner’s chosen brand,” Guss told Crunchbase News. The advantage for the retailer, he said, is to give them a way to diversify their revenue streams, build long-term enterprise value, and strengthen their customer retention.
