Tricolor, a Dallas, Texas-based auto financing company, raised $30m in equity funding.

The company intends to use the funds to scale its platform and retail network to expand availability for its used vehicles and access to auto financing options for Hispanic customers in new markets.

Its AI-powered segmentation model assesses nontraditional attributes for no credit and low-income consumers in order to assess intent and ability to repay.

To date, Tricolor has disbursed nearly $1 billion in auto loans throughout California and Texas via its brands, Tricolor Auto Group in Texas and Ganas Auto Group in California, which operate 36 retail dealerships across 12 markets in the two states, as well as a shared services center in Guadalajara, Mexico.

Earlier in the year, Tricolor launched a new affiliate called Tricolor Insurance that leverages its proprietary underwriting algorithms and scoring strategies to provide low-monthly premium insurance policies to auto owners. | To read full story, visit https://startuparound.com/read/1581078607.1122396/Tricolor-Raises-$30M-in-Funding?ref=audio_experience