Add-on Acquisition • Financial Services

Cars.com Acquires CreditIQ

On November 4, 2021, Cars.com acquired financial services company CreditIQ for 30M USD

Acquisition Context
  • This is Cars.com’s 1st transaction in the Financial Services sector.
  • This is Cars.com’s 3rd largest (disclosed) transaction.
  • This is Cars.com’s 6th transaction in the United States.
  • This is Cars.com’s 1st transaction in New York.

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M&A Deal Summary

Date November 4, 2021
Target CreditIQ
Sector Financial Services
Buyer(s) Cars.com
Deal Type Add-on Acquisition
Deal Value 30M USD

Target Company

CreditIQ

New York, New York, United States
CreditIQ is a cutting-edge automotive fintech platform that provides instant online loan screening and approvals to facilitate online car buying. CreditIQ has also built a Lending-as-a-Service (LaaS) framework that enables dealers, marketplaces, OEMs, and automotive software providers to use the same advanced fintech capabilities. CreditIQ was founded in 2014 and is based in New York City.
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Buyer Overview 1

Buyer

Cars.com

Chicago, Illinois, United States

Category Company
Founded 1998
Sector E-Commerce
Employees1,800
Revenue 719M USD (2024)
DESCRIPTION

Cars.com is an online destination that offers information from experts and consumers to help car shoppers and owners buy, sell and service their vehicles. Cars.com offers millions of new and used vehicle listings, expert and consumer reviews, side-by-side comparison, build and price tools, unbiased editorial content, service and repair resources, multiple options to sell a vehicle, and much more. Cars.com was founded in 1998 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 6 of 9
Sector: Financial Services 1 of 1
Type: Add-on Acquisition 6 of 9
State: New York 1 of 1
Country: United States 6 of 8
Year: 2021 1 of 1
Size (of disclosed) 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-14 Launch Digital Marketing

Naperville, Illinois, United States

Launch Digital Marketing is a provider of digital marketing solutions to automotive dealers. Launch Digital Marketing is based in Naperville, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-08 Accu-Trade

Manheim, Pennsylvania, United States

Accu-Trade provides dealers with vehicle valuation and appraisal technology and connects consumers to the best buyer for their vehicle. The platform is based on VIN-specific historic information and condition. The company's valuation platform is fueled by market-correct data from Galves, which has been a provider of wholesale vehicle auction information. Galves has been trusted and used by thousands of dealers to buy and sell more vehicles. The company also includes MADE Logistics, an early-stage dealer and wholesaler logistics platform to transport vehicles. Accu-Trade was formed in 2015 and is based in Manheim, Pennsylvania.

Buy $65M