Fair is a flexible car-leasing platform designed for users who want short-term, commitment-free mobility. Through its app, users receive personalized payment ranges based on their financial profile and can browse vehicles that fit their budget.
The platform allows leasing for any duration, trade-ins to try new cars, and cancellation without long-term contracts. Fair simplifies auto leasing by streamlining approvals, payments, insurance, and maintenance.
What Is Fair and What Does It Do?
Fair, founded in 2016 by Scott Painter, is headquartered in Santa Monica, United States. The company operates an app-based car leasing platform that lets users view cars within a personalized payment range, lease vehicles on flexible terms, trade up at any time, or end their lease easily through the app.
Fair employs 152 employees, working across mobility, underwriting, and automotive operations.
The platform integrates financial assessments, digital contracting, and subscription-style auto access, creating a simplified, commitment-free alternative to traditional vehicle leases.
How Much Funding Has Fair Raised?
1. Series B
- Amount Raised: $15M
- Date: March 2022
- Lead Investors: Shift Technologies
- Motivation: To stabilize and relaunch Fair’s operational model with an optimized cost structure.
2. Conventional Debt
- Amount Raised: $500M
- Date: September 2019
- Lead Investors: Mizuho Financial Group, SoftBank Group
- Motivation: To support large-scale fleet expansion and strengthen Fair’s leasing inventory.
Total Funding Raised: $566 Million
Current Valuation: $1.2 Billion (as of September 2020)
Latest Funding Date: March 2022
Key Investors
1. Market Central Private Assets
- Details: Investment platform focused on high-growth, innovation-driven ventures.
- Investment Focus Areas: Technology, mobility, consumer services.
2. G Squared
- Details: Global VC firm backing category-defining technology companies.
- Investment Focus Areas: Mobility, fintech, consumer tech.
- Notable Investments: Lyft, Airbnb, Coursera.
3. SoftBank Group
- Details: Multinational investment powerhouse known for its Vision Fund, backing transformative mobility and AI companies.
- Investment Focus Areas: Mobility, AI, robotics, logistics.
- Notable Investments: Uber, DoorDash, Nuro.
4. Ally
- Details: Leading financial services provider with strong auto financing expertise.
- Investment Focus Areas: Auto financing, mobility, and financial services.
- Notable Investments: Fair, Carvana.
5. Shift Technologies
- Details: Online auto retailing platform providing financing and vehicle acquisition solutions.
- Investment Focus Areas: Auto e-commerce, mobility technology.
- Notable Investments: Fair, CarLotz.
Where Is Fair’s Headquarters?
Fair is headquartered in Santa Monica, California, offering close proximity to West Coast auto-tech talent, financial partners, and mobility startups. This location strengthens its ability to collaborate with lenders, OEMs, and technology providers.
What’s Next for Fair?
Fair aims to refine its subscription-style auto model by integrating better underwriting technology, optimizing fleet acquisition, and expanding its partnerships with lenders and dealerships. With its flexible leasing approach gaining traction, Fair expects to re-enter growth mode, rebuild scale, and enhance app-based auto access for a broader customer segment.
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