SAN FRANCISCO — Ford Motor is hoping to speed up the new car buying process with the introduction of an online loan program powered by AutoFi. Ford also is making an investment for an undisclosed sum in the Bay Area startup, which has raised $20 million since launching nearly two years ago, according to Crunchbase. AutoFi had been working exclusively in the used car space, connecting buyers with lenders through its web and smartphone-based platform. The deal with Ford Motor C

AutoFi has raised $10 million in its quest to make it easier to take out a car loan. The San Francisco-based financial technology company said on Thursday it has completed a Series A funding round, with investors including Crosslink Capital, Ford Motor Credit Company and Lerer Hippeau Ventures. AutoFi makes a white-label technology platform that allows car dealers to offer faster, online financing to customers. It recently partnered with Ford's financing arm, Motor Credit, an

“More and more consumers want to not only start, but also complete their car buying journey online—we’re building a financial technology company that will provide dealers and online car marketplaces with a point of sale solution to serve this new online channel.” “We believe there is a significant shift happening in consumer behavior as it relates to buying cars,” explains Kevin Singerman, CEO and Co-Founder at AutoFi. “More and more consumers want to not only start, but also