Blinker Announces $10 Million Investment From Thornapple River Capital
DENVER, July 31, 2019 (Newswire.com) - Today, Blinker announced it has entered into an agreement for a $10 million investment led by Thornapple River Capital (TRC), an alternative asset management firm specializing in private company investments.
“Our partnership with Thornapple will significantly accelerate our comprehensive strategy for improving the automotive buying experience. Our mission is to put customers in control, and provide the best experience possible for buying, selling, financing and refinancing their vehicle,” said Blinker CEO Rod Buscher. “I am extremely pleased that a respected, long-term-oriented partner like Thornapple shares our view about the vast opportunity ahead for Blinker.”
Thornapple launched in 2015 and manages nine private funds investing in industries ranging from community banks, healthcare, technology, real estate, and state-legalized marijuana companies.
Blinker has developed a patented, differentiated transactional platform and operational process to support sellers, buyers and borrowers in the automotive sector. Leveraging proprietary image recognition, AI and back-office technology, Blinker provides end-to-end digital transactional capabilities for purchase/sale transactions and related finance, warranty and insurance services to buyers transacting through the platform.
Blinker has generated best-in-class customer satisfaction scores with customers receiving substantial economic benefits compared to conventional dealer channels. Further, the platform and team have generated a loan portfolio with exceptional performance and have proven the ability to mitigate fraud without physically being present with the seller, buyer or vehicle.
“We are excited to be partnering with Blinker,” said Genesis Guanga, a managing partner of TRC. “Leveraging the technology developed within the walls at Blinker, they have redefined and simplified the purchase process for automotive transactions, including providing financing seamlessly at the point of purchase. We look forward to working closely with Blinker’s management team as they pursue their strategic growth objectives.” In connection with the investment, Brandon Kanitz, managing partner of TRC, and Ned Jannotta, Jr., senior advisor to TRC, will both join Blinker’s Board of Directors.
About Thornapple River Capital
Thornapple River Capital (TRC) is an alternative asset management firm specializing in private company investments.
About Blinker
Founded in 2013 by 30-year automotive industry veteran Rod Buscher, Blinker is headquartered in Denver, Colorado, and led by a team of technology and finance industry experts from US Bank, CarMax, GM Financial, and Cox Automotive. For more information, visit blinker.com.
Contact: Andrew Price, Chief Marketing Officer, andrew.price@blinker.com
Source: Blinker
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