Carmatic provides real-time payment APIs that integrate with banks and lender programs to calculate precise vehicle financing options tailored to individual dealership needs. This technology enhances payment engagement and efficiency, addressing the complexities of automotive transactions while eliminating outdated systems.
Funding
$7.5M 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
Automotive dealerships face challenges in efficiently calculating precise vehicle financing options due to complex integrations with various banks, lender programs, and regional incentives. Outdated systems and manual processes lead to inaccuracies, delays, and a lack of transparency in payment calculations, hindering customer engagement and satisfaction.
Solution
Carmatic provides real-time payment APIs that streamline vehicle financing calculations by integrating with banks, lender programs, and incentive data sources. The APIs enable technology partners and dealerships to offer accurate and customized payment options tailored to individual customer needs and dealership preferences. By leveraging inventory, lender, and incentive data, the engine calculates precise payments, accommodating complex rules and variations across different dealerships and states. This modern payment intelligence replaces outdated systems, enabling a more efficient and cost-effective offering for the modern age of retail.
Target Audience
Carmatic primarily serves automotive dealerships and technology partners who require real-time, accurate, and customizable payment calculation APIs to enhance vehicle payment engagement and efficiency.
Features
- Deep integrations with banks, lender programs, and regional incentive databases
- Real-time REST API for instant and reliable payment processing
- Dealership-level customization for dealer fees, markups, lenders, and trade equity
- Automated selection of optimal payment structures and terms based on profitability and dealer preferences
- Usage-based pricing model beneficial for companies with varying API usage