Babak Hodjat is managing a hedge fund in San Francisco run completely by artificial intelligence (AI); his firm Sentient Technologies Inc. has been building an AI system for analyzing markets and automating trading for over a decade; performance for the firm is not publicly disclosed; numerous firm's in the wealth management industry are using some form of unbiased automated trading however Sentient is one of few firms that completely uses AI technology for comprehensively managing assets. Source
A report from Crowdfund Insider says AssetAvenue has stopped originating loans; the California-based marketplace lender was providing property loans through its digital platform; firm raised $11 million in a Series A funding round in 2015; the firm's loans were primarily averaging approximately $2 million and the platform was open to all types of investors. Source
AutoFi has raised $10 million from a Series A fundraising and has plans to expand its auto lending technology services; the platform currently allows auto dealers to sell cars online, connecting buyers with lenders; it will add vehicle leasing options for customers; it is also expanding its services to Canada through a new partnership with Tricor Automotive Group. Source
AutoGravity's mobile app services can now be accessed by consumers in 46 states; the firm first launched its mobile app in December 2016 for borrowers in California; the mobile app will now allow consumers in 46 states to obtain four financing offers for a new or used car. Source
AutoGravity has added Westlake Financial Services to its network of financing companies; AutoGravity launched its app in 46 states in January; the platform allows consumers to shop for a car online, apply for financing and receive up to four auto financing offers. Source
Aspire Financial Technologies has released new analytics and forecasting features on its Aspire Gateway Platform; the new tools will provide enhanced analytical capabilities for the originators, investors and banks utilizing the platform; clients will now be able to develop complex loan model portfolios with data from Aspire's data partners: Lending Club, Marlette Funding, Prosper and Progressa. Source
AutoFi and Ford have announced a new partnership that will make financing and buying a car available online; Ford will use the AutoFi platform for sales from its Ricart Ford dealership in Groveport, Ohio with expansion planned for dealerships throughout the United States; through the AutoFi platform customers can select a vehicle, access Ford Credit for a financing decision and terms, customize their vehicle protection products, review their paperwork, and schedule a time to complete the sale and pick up the vehicle; Ford Credit also made an equity investment in AutoFi. Source
AutoFi has announced a new partnership to expand its online point-of-sale auto financing solution; AutoFi has now partnered with iLendingDIRECT which includes a network of credit unions; the new partnership builds on a recently announced offering with Ford Credit and also adds to the platform's extensive auto lending network of banks and specialty lenders. Source
AutoGravity has launched a new mobile financing app; the app allows consumers in California to choose a car and receive four financing options through the mobile app; the buyer can arrange all of the pre-sale details through the mobile app making the completion of the deal at the dealership fast and convenient. Source
AutoGravity was founded in 2015 and recently launched in 46 states; its mobile app provides users with four personalized auto financing offers on their smartphone; their statistics report over a quarter million users have downloaded the app and notes that its financing network includes 1,400 franchise dealers; the firm's report also includes demographics of users and types of cars purchased, among other statistics. Source