Cars acquires creditiq automotive fintech platform, enabling instant financing for consumers, dealers and lenders

Chicago, nov. 4, 2021 /prnewswire/ -- cars.com inc. (nyse: cars) ("cars" or the "company"), a leading automotive marketplace platform that provides a robust set of industry-specific digital solutions, announces it has signed a definitive agreement to acquire creditiq, a cutting edge automotive fintech platform that provides instant online loan screening and approvals to facilitate online car buying. consideration for the transaction will be $30 million at closing, funded using cash on hand, with the potential for up to an additional $50 million in performance-based cash consideration to be earned over the next three years.
CARS Ratings Summary
CARS Quant Ranking