The startup provides inventory-secured funding solutions that connect original equipment manufacturers (OEMs), distributors, and dealerships through data-driven insights. This approach enhances data flow among channel partners, improving decision-making and operational efficiency in commercial distribution finance.
Funding
$124.1M 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
Equipment distributors and dealerships often face challenges in securing adequate funding for inventory, which can limit their ability to stock a diverse range of products and meet customer demand. Traditional financing options may be restrictive, hindering growth and operational flexibility. The lack of seamless data flow between OEMs, distributors, and dealers further complicates inventory management and decision-making.
Solution
MitchCap provides inventory-secured financing solutions designed to connect OEMs, distributors, and dealerships, facilitating smoother transactions and improved inventory management. By offering up to 100% advance on equipment inventory, MitchCap enables dealerships to maximize their cash flow and expand their product offerings. The company's floorplan finance solutions cover both equipment held for sale and rental, providing comprehensive support for various business models. MitchCap also streamlines cross-border transactions and offers access to OEM-backed programs, enhancing operational efficiency and market reach for its clients.
Target Audience
The primary target audience includes equipment dealerships specializing in recreational vehicles (RVs), marine vessels, motorbikes, bicycles, agricultural equipment, and other industrial equipment, as well as the OEMs and distributors who supply them.
Features
- Floorplan financing with up to 100% advance on equipment inventory
- Flexible two-year term for each financed equipment item
- Streamlined cross-border payment services for international transactions
- Coverage for both sale and rental equipment
- Access to OEM-backed distributor programs in marine, RV, motorbike, bicycle, and agriculture equipment industries
- Online marketplace (MitchMarket) connecting dealers directly with consumers
- MitchMarket Finance platform providing fast pre-approved loans to customers