12/8/2023 0 Comments Shift technologies companyFor more information please visit Forward-Looking Statements Shift provides comprehensive, digital solutions throughout the car ownership lifecycle: finding the right car, having a test drive brought to you before buying the car, a seamless digitally-driven purchase transaction including financing and vehicle protection products, an efficient, digital trade-in/sale transaction, and a vision to provide high-value support services during car ownership. Shift’s mission is to make car purchase and ownership simple - to make buying or selling a used car fun, fair, and accessible to everyone. Shift is a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience. We’re excited to deepen our relationship with inventory financing, support Shift’s growth, and expand our shared opportunities in the used vehicle market.” We are grateful to Ally for their support and confidence in Shift and look forward to a successful relationship.”ĭoug Timmerman, president of Dealer Financial Services, Ally Financial added, “Since 2014, the Ally team has provided a broad range of services to Shift including indirect retail financing, vehicle protection products and digital remarketing services. “This new facility improves Shift’s capital position, doubling the availability of our previous floor plan, and increases our financial flexibility as we look to accelerate future growth. As a result, our financing needs have grown as well,” said Oded Shein, Shift’s CFO. “Our business is rapidly scaling, with 2021 sales expected to more than triple compared to 2020. The new floorplan financing relationship expands the companies’ business relationship and has a two-year term, expiring December 9, 2023. (NYSE:ALLY), a leading digital financial services company. 13, 2021 (GLOBE NEWSWIRE) - Shift (Nasdaq: SFT), a leading end-to-end auto ecommerce platform transforming the used car industry with a technology-driven, hassle-free customer experience, announced a $100 million committed floorplan facility with Ally Financial Inc.
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