The startup offers a digital payment management platform that automates receivables processing and real-time payment communications, enhancing payment traceability and invoice digitization. This solution enables marketers and car dealers to streamline internal payment management, reducing resource expenditure and improving operational efficiency.
Funding
$42.4M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many automotive dealerships face challenges in managing payments, including manual processing, time-consuming reconciliation, and lack of real-time visibility, leading to inefficiencies and increased operational costs. Traditional payment methods can also result in delayed payments and customer dissatisfaction.
Solution
Aufinity provides a digital payment management platform designed specifically for the automotive industry, automating and streamlining the entire receivables process from payment invitation to reconciliation with accounting systems. The platform offers a modern payment experience for customers with various payment options, including digital installment payments, while providing dealerships with real-time visibility into payment status and automated reminders for overdue invoices. By digitizing and automating payment workflows, Aufinity helps dealerships reduce manual effort, accelerate liquidity, and improve customer satisfaction. The platform also includes features for money laundering prevention, ensuring compliance and minimizing administrative costs.
Target Audience
Aufinity primarily targets automotive dealerships, including new car, used car, and service departments, seeking to streamline payment processes, improve cash flow, and enhance customer experience.
Features
- Automated payment requests via email or SMS with integrated payment information
- Real-time payment status updates for both customers and dealerships
- Digital payment confirmations sent automatically upon successful payment
- Error-free allocation of incoming payments, regardless of transfer reference
- EBICS integration for automated payment assignment to house bank accounts
- Seamless integration with various ERP systems and accounting software
- Automated dunning system with adjustable payment reminders
- Integrated installment payment options for customer convenience
- Money laundering prevention through automated background checks of contract partners and payment senders
- Customizable dashboards and reporting tools for credit management and KPI tracking
- Aufinity Smart Checkout for contactless on-site payments
- White-label solution to position the platform as a service for your organization