Purecars Technologies Completes Strategic Acquisition of Automotive Fintech SAAS Provider TruPayments
The addition of financial integrations and online retailing capabilities will provide dealerships with expanded options to attract and convert shoppers more quickly and efficiently, while providing a more seamless, personalized shopping experience to their customers.
PureCars, a leading martech and advertising intelligence provider for automotive retailers and marketers, announced its acquisition of shopping personalization (DXP) and fintech platform, truPayments, further solidifying its commitment to helping dealers thrive by expanding its martech and services suite to include personalized payment shopping. PureCars’ best-in-class tech optimizes media buys to achieve lower ad costs per unit sold and per RO, resulting in increased profitability for dealerships. truPayments’ tech converts shoppers earlier in the buying process, further reducing advertising costs for dealerships, while providing an improved buying experience for their customers. PureCars is backed by Diversis Capital Partners and Stage 1 Ventures.
truPayments, LLC is a financial technology company with deep roots in eCommerce and the Automotive Industry, providing digital retailing solutions to automotive, powersports and RV dealerships, as well as lending institutions. With solutions that include shop-by-payment and trade-in tools, truPayments empowers shoppers with personalized, relevant payment information to create more frictionless online buying experiences. Lender data integrations ensure every quoted payment is accurate, whether the customer purchases online or in store. By providing consumers with a more practical shopping experience, truPayments generates more qualified leads for dealerships.
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The acquisition of truPayments will add even more payment data to PureCars’ already massive data warehouse, enabling dealers to serve payment-relevant ads to shoppers, and convert those shoppers to buyers, earlier in their buying journey, further reducing dealer ad costs per unit sold. Dealers will be able to more quickly and efficiently match in-market shoppers with their inventory at exactly the right payment.
Furthermore, while the industry grapples with inventory shortages, pairing vehicle acquisition campaigns with an accurate trade tool that quickly shows consumers the equity in their trade will give dealers a more profitable, less competitive vehicle acquisition option to auctions, which can eat into margins with transport and other associated fees.
“Automotive shoppers today expect more from dealerships at every stage in the buying cycle,” said Jeremy Anspach, CEO of PureCars. “In order to give dealerships a leg up on new disruptive competitors that bypass the dealership, but offer much more limited services, dealerships need innovators like PureCars to help them deliver smoother, more intuitive experiences to shoppers as their expectations continue to rapidly evolve. The unification of PureCars’ martech and truPayments’ fintech represents an organic evolution for both companies that will result in even greater cost efficiencies for our dealers and partners, as well as superior shopping experiences for the customers they serve.”
“The opportunity to directly integrate martech with shopping personalization and digital retailing is groundbreaking.” said Tarry Shebesta, CEO at truPayments. “The synthesis of the underlying data and technology sets the stage for us to have a significant positive impact on the car buying process for consumers, as well as the advertising and retailing experience for dealerships.”
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