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Classified in: Transportation, Business
Subject: VEN

Carlease To Redefine How Consumers Lease Vehicles And Capitalize On Rising Lease Trends With Initial Round Of Funding

CHICAGO, Feb. 21, 2018 /PRNewswire/ -- Carlease, the premier car leasing experience site delivering concierge-level consumer service, announced an initial funding round of $3.5M led by Lightbank, together with a syndicate of powerhouse automotive industry veterans. Led by Andy O'Dower, former Chief Product Officer at Curiosity.com and Director of Product at Cars.com, Carlease.com is built on the premise that car leasing can be simple. From a single site, consumers can get the car they want, with the right offer, delivered to their door. Carlease provides a complete, single-point-of-contact experience to the consumer, but partners with dealers to fulfill the transaction.

Andy O'Dower, CEO of Carlease

"Leases now account for nearly one-third of all new vehicle sales, with those percentages going up significantly across luxury makes and with millennial buyers," said Andy O'Dower, CEO of Carlease. "Leases are gaining popularity for a variety of reasons, including rapid advancements in automotive technology, and shoppers are looking for a convenient, one-stop shop to help them navigate the leasing process and quickly get into their next car. At Carlease, we are motivated to help our customers get the lease offer and terms that best meet their needs while delivering concierge-level service that takes the time and stress out of new car shopping."

To deliver on this promise, Carlease recently unveiled a new platform offering shoppers the ability to search across the latest models with any feature set. Within 24 hours, a Carlease expert will be in touch with multiple lease offers for review. The same Carlease expert then handles the approval process, any trade-in, and delivery of the new vehicle to the consumer's home or office, all at no cost to the consumer. Consumers get the benefit of leveraging volume buying power with Carlease, while working with a single, unbiased point of contact and knowing that the vehicle is coming from a trusted (and often local) dealer partner.

"Carlease's unique, independent model capitalizes on the trends happening within the automotive industry, saving consumers time and money while increasing transaction opportunities for partner dealerships," said Victor Pascucci III, Managing Partner of Lightbank. "With leasing numbers steadily increasing and luxury brands reporting that leases account for as high as 65% of total new car transactions, now is the time for a better nationwide platform that makes finding leases simple, straightforward and convenient for consumers."

"We have a history of driving successful businesses within the automotive and consumer sectors," said Bill Pescatello, Partner at Lightbank. "Carlease is the right combination of deep product and technology expertise, combined with a massive, growing market demand. We are thrilled to add Carlease to our portfolio."

In addition to Lightbank, other notable automotive and technology veterans participated in the financing, including former Cars.com president Mitch Golub, and DRIVIN co-founders Kayne Grau and Justin Mahlik. Carlease used the funding to acquire strategic assets that will create a strong foundation for growth, with plans to enhance their technology platform, digital experience, and business leasing partnerships, while expanding markets nationwide.

About Carlease
Carlease is the premier car leasing experience site, delivering expert, efficient and concierge-level service to help you find the right car, with the right offer, delivered to your door. With rapid technology advances and changing needs of buyers, leasing is quickly becoming the new path to vehicle ownership. Let our team of skilled, unbiased experts take the stress out of finding your next new car.

At Carlease, we believe in car leasing made simple. To learn more, visit us at https://www.carlease.com. Connect with us on Twitter: @carleasecom or Facebook: facebook.com/carleasecom.

Media Contact:
Alex Glenn


Visit Carlease.com


SOURCE Carlease, Inc.

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