DigniFi Raises $175M Financing

DigniFi, a Seattle, WA-based FinTech company specializing in automobile repair financing, raised $175M in funding.

The round consisted of up to a $150M credit facility from Encina Lender Finance, while Brigade Capital Management contributed an additional $25M in debt financing.

The company intends to use the funds to expand operations and its development efforts.

Led by CEO Neeraj Mehta, DigniFi is a FinTech company that helps auto dealers and small businesses across the country grow their revenue providing customers with access to inclusive financing. Its technology simplifies the loan application process and enables small businesses to offer on-the-spot financing, for auto repairs, parts and accessory purchases, maintenance packages, insurance deductibles, and vehicle service contracts. All credit products are originated by WebBank.

To date, DigniFi has helped over 2,200 small businesses across the nation secure almost $445 million in incrementation transactions.