Open road finance software#

'We expect demand for auto refinancing to continue to rise as smart consumers look for ways to lower their expenses.

'Over the past 12 years, we've built a tremendous operation known for saving customers money and delivering a convenient, modern online experience,' Goodman said. OpenRoad will also leverage this investment to broaden its marketing channels and grow both organically and through acquisition. Through its partnership with Clarion, OpenRoad plans to capitalize on its market position and explore additional business lines, such as lending for auto purchases, lease buyouts, car insurance and other consumer verticals. OpenRoad currently focuses all its efforts on auto refinancing.

Open road finance software#

The company uses best-in-class sales and fulfillment processes, strategic marketing and a proprietary software platform to provide its lending partners with high-quality, high-performing direct loans that meet each lender's underwriting criteria. In addition, OpenRoad offers value-add vehicle protection products such as GAP, vehicle service contracts and paintless dent repair. The terms of the transaction were not disclosed.įounded in 2009 by the same executives who pioneered RoadLoans, OpenRoad partners with banks, credit unions and institutional investors to enable consumers to refinance their existing auto loans, lower their interest rates and achieve significant monthly savings. Chris Goodman, OpenRoad's CEO and co-founder, will retain a meaningful ownership stake and continue his role as CEO. 13, 2021 (GLOBE NEWSWIRE) - OpenRoad Lending and Clarion Capital Partners today announced that Clarion has completed a strategic investment in OpenRoad, the fast-growing direct-to-consumer auto finance company.