Car-leasing App Raises $23M
April 2, 2018—Honcker, which claims to be the first 100-percent automated car-leasing app enabling consumers to shop for leases, recently received a $23 million investment, according to a press release.
The company has a footprint that has expanded to eight states, due in large part to the current popularity of auto leasing. Honcker notes, for example, that 35 percent of vehicles are now leased, compared to just 17 percent a few years ago. That, the company feels, is creating the need for a faster, more simplified leasing process.
Thus, for car dealers, Honcker aims to provide a channel for connecting with new customers, and claims to allow up-to-the-minute monitoring and price adjustments through a dashboard.
Honcker garnered its recent $23 million investment via Series A funding from InteraActiveCrop, which owns over 150 brands, including Angie’s List and Vimeo. According to the aforementioned press release, Honcker is currently growing 50 percent month over month.