SelectFI Lending Solutions Raises New Funding to Expand AI-Powered Auto Financing Platform
SelectFI Lending Solutions, an automotive artificial intelligence company that helps dealerships modernize and streamline the financing experience, has announced a new round of funding to fuel its rapid growth and expand its predictive lending platform nationwide. The company’s platform, which enables finance and insurance (F&I) managers and sales teams to quickly quote accurate, compliant financing options for customers, is being scaled with backing from a diverse group of investors as SelectFI transitions from early development into broader commercial traction.
The latest investment round was led by StartFast Ventures, a vertical AI-focused venture capital firm that backs early-stage companies in sectors such as financial services, commerce, and cybersecurity. As part of the new funding, Michael Quigley, co-founder and Chief Strategy Officer of Impel, is joining SelectFI’s board to help guide the company’s strategic growth.
In addition to StartFast Ventures, several investors participated in the round, reflecting broad support from both institutional and accredited backers. These include University of Buffalo’s Business and Entrepreneur Partnership, which fosters regional innovation and startup growth; Automotive Ventures, a venture capital firm dedicated to transformative automotive and mobility technologies; Ron Frey and Jack Greco, individual investors with deep experience in automotive and technology sectors; Michael Wethington, a seasoned investor; and LaunchNY, a venture development organization supporting early-stage tech startups.
SelectFI’s new funding builds on its previous success, including a $4.5 million pre-seed round that closed in mid-2024. That earlier round brought together a broad pool of private individuals, institutional investors, and loyal customers, demonstrating confidence in the company’s innovative predictive lending software and its potential to reshape automotive finance. The capital has been instrumental in extending SelectFI’s market footprint and enhancing its technology offerings.
Founded in 2023 and headquartered in Erieville, New York, SelectFI leverages proprietary Predictive Lending™ analysis to prequalify customers for financing using a dealership’s existing lenders. The platform uses soft-pull technology and lender guidelines to enable dealerships to quickly match buyers with optimal financing scenarios without impacting credit scores, improving efficiency for internal F&I teams while helping maintain compliance with federal fair lending regulations.
Under the leadership of CEO Andrew Sweet, who joined the company as part of the new funding announcement, SelectFI is positioning itself to help dealerships make faster, smarter, and more profitable financing decisions. Sweet brings experience from his previous role leading SaaS solutions at ACV Auctions, where he helped advance digital retail technologies for automotive dealers. His appointment signals a sharpened focus on scaling operations and deepening product impact across the U.S. dealership network.
The newly raised funds will be used to support continued product development, expand sales and marketing efforts, and scale SelectFI’s operations as it grows its customer base. The company’s advanced software intends to reduce friction in the auto buying journey by giving dealers tools that predict lender responses and guide financing recommendations more accurately — a capability that can boost dealer margins while simplifying the purchase process for consumers.
SelectFI’s momentum has been bolstered by consistent month-over-month revenue growth, driven by increasing dealer adoption of its predictive financing solution. The company has also expanded its team and resources to support a growing client base, reinforcing its position in the competitive automotive technology ecosystem.
By combining predictive intelligence with lender and dealership expertise, SelectFI aims to deliver a transparent, efficient, and compliant path to automotive financing — a space historically challenged by manual processes, regulatory complexity, and inconsistent consumer experiences. As dealers increasingly embrace AI-powered tools to enhance profitability and customer satisfaction, the company’s latest funding round underscores investor belief in the transformative potential of its technology.
With a strengthened leadership team, expanded investor support, and a clear roadmap for growth, SelectFI Lending Solutions is primed to accelerate its market penetration and deliver next-generation predictive lending capabilities to dealerships across the country.
