Dallas-based auto industry financial technology company EPIC has raised $10 million in Series A funding in a round led by FM Capital, with participation from Automotive Ventures and other strategic industry investors.
EPIC, which calls itself “the loan payoff clearinghouse for the automotive ecosystem,” said the funding will support continued market expansion and platform innovation.
“This funding lets us reach more partners and further improve how dealers, lenders, and insurers manage loan payoffs and title releases,” EPIC Brandon Hall said in a statement. “Faster, more efficient processing helps our partners save time, reduce errors, and boost profit opportunities.”
Legacy processes for loan payoffs and title releases create friction, delay, and financial risk for the automotive industry. EPIC says it replaces that with a modern financial infrastructure—a secure, digital clearinghouse that streamlines every step, from payoff quote to title release.
“EPIC is eliminating one of the industry’s most stubborn bottlenecks,” Chase Fraser, managing partner at FM Capital, said in a statement. “Its digital network for loan payoff and title release replaces outdated manual processes with the speed and precision today’s automotive ecosystem demands.”
Steve Greenfield, general partner of Automotive Ventures, said the platform helps solves issues that cost time and money.
“Our investment in EPIC reflects a shared vision to digitize a key segment of the automotive transaction process that has been unsolved,” Greenfield said. “The EPIC platform reduces errors, saves time, and moves the industry toward a unified, digital workflow, saving dealerships thousands every month in holding and processing costs.”
EPIC partners with automotive dealers, vehicle lenders, and automobile insurers across the nation to help them drive efficiency and improve overall profitability.
EPIC said it plans to expand its reach to additional markets, including powersports and RV markets, in its next growth phase.
Source: https://dallasinnovates.com/
