Plenti has partnered with two online automotive retailers, bringing its cutting-edge financing technology to consumers in the booming automotive market. The company also just announced the former CEO of EFTPOS as a new board member.
Fintech lender Plenty Group (ASX:PLT) announced key partnerships with two online vehicle retailers, Karma and The right car companyto provide financing to customers who purchase vehicles through their platforms.
Customers on the platforms will now be able to use Plenti’s market-leading technology that allows loan applications to be approved in just 60 minutes, with same-day settlement.
Plenti says the partnerships reflect the ongoing shift in consumers’ auto shopping habits, which are increasingly moving online.
Commenting on the deal with Carma, Plenti’s head of auto loans, Joel Pothin, said:
“Plenti’s all-digital process aligns perfectly with Carma’s online retail model, and together we will deliver a superior customer experience that meets the expectations of today’s digital-savvy consumers.
“This is a natural partnership between two all-digital companies that share a vision of making car buying easier and more accessible end-to-end.”
Meanwhile, the partnership with The Good Car Company will allow Australians to get their hands on electric vehicles faster – a key aim of Plenti, which launched EV-specific loans in 2021.
The Good Car Company is Australia’s leading online electric vehicle retailer.
Plenti’s flexible financing options will allow customers to purchase new and used electric vehicles delivered by Australian dealerships as well as those imported from Japan and the UK.
It will also offer customers the ability to obtain financing options to cover the cost of insurance, EV chargers, home batteries and solar panels.
“We are delighted that The Good Car Company has recognized our ability to leverage our technology capabilities and integrate them into their own car buying journey, to make buying and financing an electric vehicle as simple as possible for customer,” said Plenti CEO Daniel Brouillard.
“We are also delighted to help even more Australians overcome the initial cost of transitioning to electric vehicle ownership by providing easy and cost-effective financing solutions,” added Foggo.
New appointment to the board of directors
Meanwhile, Plenti also announced the appointment of Stephane Benton to its board of directors as an independent non-executive director, as of July 1.
Benton has 30 years of experience driving financial services business strategies across large organizations, challenger brands and growing businesses.
He also has specific experience in consumer lending, product development and debt collection.
His most recent executive role was as CEO and Managing Director of EFTPOS, where he led a strategic reset. Prior to that, Benton was responsible for consumer finance, payments and emerging businesses at Westpac.
Benton’s board experience includes serving as Chairman of Infochoice Limited and Once Private Group, and as a director of EFTPOS and Baycorp Collection Services.
Plenti President Mary Plowman said Brenton is “an accomplished director and executive with considerable expertise in many important facets of financial services.”
“Stephen’s experience will be invaluable as Plenti continues to execute on its strategic priorities.”
This article was developed in conjunction with Plenti Group, a Stockhead advertiser at the time of publication.
This article does not constitute advice on financial products. You should consider obtaining independent advice before making any financial decisions.