Friday, February 23, 2024
HomeMember NewsAgora Data Advances a Large Franchise Auto Group to Meet Growth Goals

Agora Data Advances a Large Franchise Auto Group to Meet Growth Goals

Transaction drives sales providing customers with more financing options

ARLINGTON, Texas, Jan. 30, 2024 /PRNewswire/ — Agora Data, Inc., a fintech company with its mission to ‘enable any car dealer to be a finance company’ by providing technology, capital, and guidance with predictable loan performance and analytics, announces the successful completion of another $50 million transaction with a 40+ rooftop franchise automotive group. These strategic financing transactions accelerate the auto group’s aggressive growth plans in multiple locations throughout the northeast.

“Agora continues to help franchise dealers like this group finance more customers, sell more cars, and make more money,” said Steve Burke, CEO of Agora. “Franchise dealers are impacted by compressed margins post covid and are turning to Agora to increase their margins through our AgoraCapital program. Dealers have realized the need for a captive finance company to increase their F&I revenue and keep the consumer in their ecosystem.”

Large national dealer groups set up captive finance companies years ago, and now with the AgoraCapital program, single point to multi-point dealerships can have their own captive. Agora uses advanced modeling artificial intelligence (AI) and unique structures along with providing the capital for a fully turnkey captive finance company. The AgoraCapital program does not change the F&I process in a dealership other than adding significant revenue.

Agora will be at the National Automotive Dealers Association (NADA) Show February 1 – 4 in Las Vegas and encourages dealers to come by booth #6705N to learn more.