EPIC Secures $10 Million Investment to Innovate Automotive Loan Payoff Process

EPIC Secures Funding to Transform Automotive Loan Payoff and Title Release

In a significant development for the automotive industry, EPIC™, a leading financial technology company, has announced the successful completion of a $10 million Series A funding round. This funding is aimed at revolutionizing the way automotive businesses manage the loan payoff and title release processes, addressing a persistent challenge within the sector.

The funding round was primarily led by FM Capital, with substantial contributions from Automotive Ventures alongside various industry-focused investors. According to Chase Fraser, Managing Partner at FM Capital, EPIC is set to eliminate one of the most pressing bottlenecks faced by automotive transactions. He expressed that the company's innovative digital network replaces outdated and inefficient manual processes, delivering the speed and accuracy that today’s automotive ecosystem requires.

Traditional methods of handling loan payoffs and title releases have often resulted in friction, lengthy delays, and increased financial risks for automotive dealers and lenders. The EPIC platform introduces a modern financial infrastructure—a secure, digital clearinghouse that streamlines all steps of the process, from generating loan payoff quotes to facilitating title releases. This modernization is essential in a market where efficiency and cost-effectiveness have become paramount.

Steve Greenfield, General Partner at Automotive Ventures, commented on the strategic nature of their investment in EPIC, highlighting their shared vision to digitize a segment of the automotive transaction process that has remained largely unaddressed. He stated, “The EPIC platform reduces errors, saves time, and shifts the industry towards a unified, digital workflow.” Such a transformation is poised to save dealerships substantial amounts in holding and processing expenses each month, fostering a more profitable operational environment.

Brandon Hall, CEO of EPIC, shared insights on how this funding will enhance their outreach and effectiveness. “This investment enables us to connect with more partners and refine how dealers, lenders, and insurers manage their loan payoffs and title releases,” he noted. A more expedited processing system will ultimately help partners save time, minimize errors, and increase profit margins across the board.

Currently, EPIC boasts partnerships with numerous automotive dealers, lenders, and insurers throughout the United States, all aimed at driving efficiency and boosting overall profitability in the automotive sector. As part of their future growth strategy, EPIC plans to expand its services into additional markets, including powersports and recreational vehicles, marking a significant step in their path toward comprehensive market innovation.

For those interested, more information about EPIC and their services can be found on their official website at www.withepic.com.

About EPIC

EPIC™ functions as a loan payoff clearinghouse for the automotive ecosystem, establishing a bridge for digital connectivity among the industry's largest financial networks. Its state-of-the-art infrastructure facilitates secure financial transactions and reliable title releases, all managed via a unified platform, driving efficiency and innovation in automotive transactions.

For media inquiries, please contact:
Laurie Halter
Charisma! Communications
Phone: 503-816-2474
Email: [email protected]

In closing, the enhancement brought forth by EPIC’s funding represents not only a substantial investment in technology but also a commitment to changing the automotive industry landscape, paving the way for a future of streamlined, error-free transactions.