Thursday, November 25, 2021

NextCar Completes Acquisition of Autonomy Brand and Intellectual Property Brand Library

NextCar / NXCR (NextCar Holding Company), the fintech and insurtech vehicle subscription platform founded by auto retail, auto finance, and insurtech entrepreneurs Scott Painter and Georg Bauer, today announced it has completed the acquisition of the Autonomy brand and IP brand library from Micro Focus.

The acquisition of Autonomy includes the primary global domain, Autonomy.com, along with a family of country and subdomain extensions as well as trademark applications, goodwill, and related brand IP. Autonomy was previously a Hewlett-Packard company that was later acquired by Micro Focus.

“Autonomy, which stands for freedom, is more meaningful post-pandemic. Mobility is at the core of what makes us feel free, so access to it should be flexible, easy, and affordable,” said Scott Painter, co-founder and CEO of NextCar / NXCR.

“Customer acquisition cost is one of the critical factors in determining the success of any business. Going to market with a compelling brand that people can relate to in tandem with a magical product and consumer experience creates a moat for any business and is the foundation for scaling this business profitably,” added Painter.

Also Read: Developing a more resilient IT work culture

Scott Painter has been at the forefront of the digital revolution in automotive over the past 20 years, with a singular mission to make buying and owning a vehicle easier through technology. He has founded dozens of clarion automotive technology and fintech brands that have found mass appeal with in-market car shoppers. Each of these brands represents innovations that have advanced how consumers and dealers go to market, while easing the friction in the auto retail and auto finance experience. Painter founded CarsDirect.com (now Internet Brands); TrueCar (Nasdaq-traded); Fair, which pioneered used-vehicle subscriptions and the Car-as-a-Service (CaaS) model; and now Autonomy.

Painter’s co-founder, Georg Bauer, is widely considered one of the architects of modern vehicle leasing. He was the founding CFO and later CEO of Mercedes-Benz Credit Corporation and subsequently led the expansion of BMW Financial Services globally. He was also responsible for building Tesla’s financial services business in Europe and Asia in support of the launch of the Model S. Prior to co-founding Autonomy, Bauer partnered with Painter to co-found Fair, the first used-vehicle subscription platform, creating the CaaS category.

“Easy and affordable access to mobility is a challenge for consumers everywhere,” said Georg Bauer, co-founder and president of NextCar / NXCR. “The ability to immediately become a global brand through our acquisition of an IP brand library that is inclusive of assets in over a dozen countries is an incredibly valuable strategic asset. We believe Autonomy will be a pivotal financial and insurance innovation through which consumers get access to a vehicle.”

Latest news

OneConnect Powers Digital Transformation for Banks with Launch of New Gamma Core Banking System

OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) ("OneConnect"), a leading technology-as-a-service platform for financial institutions and an associate of Ping An Group, has today released...

NextCar Completes Acquisition of Autonomy Brand and Intellectual Property Brand Library

NextCar / NXCR (NextCar Holding Company), the fintech and insurtech vehicle subscription platform founded by auto retail, auto finance, and insurtech entrepreneurs Scott Painter and Georg Bauer, today...

Novartis launches virtual innovation hub to accelerate digital health solutions in sub-Saharan Africa

Novartis has announced the launch of its new innovation hub, Novartis Biome sub-Saharan Africa (SSA), which will spearhead the further development of innovative business...

Next-gen Fintech Platform DeFiato Completes First Round of Private Fundraise

DeFiato, a next-generation fintech platform for Decentralised Finance (DeFi), successfully completed the first round of its private token sale. Participating investors include leading DeFi-focused...

Thunes Announces Senior Hires to Lead Key Regions and Ramp up Global Expansion

 Thunes, a global cross-border payments company, today announced that it has appointed four new senior executives to lead its business in strategic regions: Asia Pacific,...

StarCompliance Names B2B Software Veteran As Chief Financial Officer

StarCompliance (“Star”), a leading provider of compliance technology solutions to the global financial services industry, announced the addition of a new Chief Financial Officer...

Related news

OneConnect Powers Digital Transformation for Banks with Launch of New Gamma Core Banking System

OneConnect Financial Technology Co., Ltd. (NYSE: OCFT) ("OneConnect"), a leading technology-as-a-service platform for financial institutions and an associate of Ping An Group, has today released...

NextCar Completes Acquisition of Autonomy Brand and Intellectual Property Brand Library

NextCar / NXCR (NextCar Holding Company), the fintech and insurtech vehicle subscription platform founded by auto retail, auto finance, and insurtech entrepreneurs Scott Painter and Georg Bauer, today...

Novartis launches virtual innovation hub to accelerate digital health solutions in sub-Saharan Africa

Novartis has announced the launch of its new innovation hub, Novartis Biome sub-Saharan Africa (SSA), which will spearhead the further development of innovative business...

Next-gen Fintech Platform DeFiato Completes First Round of Private Fundraise

DeFiato, a next-generation fintech platform for Decentralised Finance (DeFi), successfully completed the first round of its private token sale. Participating investors include leading DeFi-focused...

LEAVE A REPLY

Please enter your comment!
Please enter your name here