What Carpay does

Carpay (CarPay, Inc.) is a US-based vertical SaaS company founded in 2016 and headquartered in Santa Monica, California, that provides a loan management and payment collection platform purpose-built for Buy Here Pay Here (BHPH) automobile dealerships. BHPH dealers are independent auto retailers that provide in-house financing to subprime borrowers and manage their own loan portfolios; Carpay replaces the manual, in-person payment collection workflows historically required by these dealers with a multi-channel digital stack consisting of a dealer-facing loan management system (dealers.carpay.com), a customer mobile app for iOS and Android, a web payment portal (pay.carpay.com), an IVR phone payment system, and in-store cash payments via a Paysafe retail partnership. Payments made through any channel automatically sync to the dealer's existing Dealer Management System (DMS), and the platform supports autopay enrollment, automated email/SMS reminder cadences (upcoming, overdue, expired card, work-late), and a dealer-facing Communications Portal for TCPA-compliant outreach.

The platform integrates natively with 10+ DMS platforms prevalent in the BHPH segment (Wayne Reaves, AutoManager, Frazer, DealerCenter, iDMS/DealerSocket, DealPack, AutoStar, FoxProDM, Auto Master Systems, Interactive ValSoft, Motion), surfacing as a button within dealer workflows. Carpay's revenue model combines per-transaction convenience fees on customer payments with a dealer subscription service (pricing not publicly disclosed), and the company acts as a software intermediary that routes payment instructions to third-party processors without holding funds or acting as merchant of record. The company has raised approximately $10.1M across five funding rounds through January 2021, with a $6.5M round led by Autotech Ventures as the most recent disclosed capital event. Headcount is reported in the 11–50 range, and the platform is US-only with no disclosed international or adjacent-vertical expansion.

Name

Carpay

Legal name

CarPay, Inc.

Website

https://carpay.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Carpay is a US vertical-SaaS platform that enables Buy Here Pay Here (BHPH) auto dealerships to collect loan payments 24/7 via mobile app, web, IVR phone, and in-store cash, with automatic sync to the dealer's DMS and automated delinquency reminders.

Ownership category

akta.pro rank

Product category

Auto Loan Servicing Software

NAICS

Activities Related to Credit Intermediation (5223), Mortgage and Nonmortgage Loan Brokers (522310)

SIC

Loan Brokers (6163), Miscellaneous Business Credit Institution (6159)

akta.pro primary industry

Loan Servicing Platforms (Billing, Statements, Customer Self-Service) (FSAGAHAH)

akta.pro secondary industry

Vertical-Specific POS Financing (e.g., Healthcare, Auto, Home Improvement) (FSAGAIAK)

Keywords

• BHPH loan management
• Auto loan payments
• Dealer payment software
• Subprime auto financing
• Lending enablement platform

Headquarters

HQ city

Santa Monica

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Payment processing / transaction fees: Carpay facilitates payments between BHPH customers and dealerships through a third-party payment processor. The company acts as an intermediary, routing payment instructions. Revenue appears to come from convenience fees charged on transactions (a convenience fee per transaction is added to the checkout amount for customers paying by credit card), as well as potentially subscription fees for dealers as referenced in the Terms stating 'when you agree to use a subscription service.' Dealers also pay for the platform, with the dealer application noting 'no credit checks' and 'totally seamless' onboarding. Carpay does not receive, hold, transmit, or control funds and is not a merchant of record.

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels6 records

Core offering

Carpay operates a lending enablement platform purpose-built for Buy Here Pay Here (BHPH) dealerships. It provides a dealer-facing loan management system (LMS) plus a mobile app and web portal through which borrowers can make car loan payments 24/7 across multiple channels (mobile, online, phone IVR, and in-store cash via Paysafe). Payments are routed through third-party processors and automatically synced back to the dealer's DMS.

Product overview

Carpay is a BHPH-focused payment technology company that provides a unified software platform comprising a dealer-facing loan management system (LMS), a customer-facing mobile app, and a web payment portal. The core product suite includes the Carpay Dealer Portal (LMS) for dealerships to manage payments, automated reminders, and customer communications; the Carpay Mobile App and Web Payment Portal for borrowers to make payments, view balances, and manage autopay; and add-on modules such as Automated Payment Reminders, Communications Portal, Cash Payments via Paysafe, and IVR Phone Payments. All payment data syncs automatically to the dealer's DMS. Carpay positions itself as an intermediary that routes payment instructions to third-party processors without holding funds or acting as a merchant of record.

Differentiator

Problem solved

Functional benefit

Products and services

• Carpay Dealer Portal (LMS) A dealer-facing loan management system (LMS) that enables BHPH dealerships to receive payments, manage customer accounts, send automated reminders, generate registration codes, view reports, and sync payment data to their DMS.
• Carpay Mobile App A mobile application (iOS and Android) for BHPH customers to make car loan payments, view account balances and payment history, manage autopay, and access account information. Supports Face ID login and two-click payment functionality.
• Carpay Web Payment Portal A browser-based customer portal where BHPH borrowers can log in, make one-time payments, set up autopay, view payment history, update payment methods, manage notification preferences, and generate in-store cash payment codes.

Quantifiable outcome

• Saves BHPH dealers 3 hours every Friday processing payments and following up on accounts
• +2 more outcomes

Named customers6 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration13 records

Feature9 records

Partnerships

Seven partnerships are on record, tiered core.

• PaysafecoreTechnology or IntegrationPaysafe is Carpay's cash payment partner, enabling customers to make cash payments at participating retail locations. Customers generate a barcode via the Carpay portal or app and present it at a Paysafe retail partner to pay in cash. A service fee set by Paysafe applies per transaction.
• Wayne ReavescoreTechnology or IntegrationWayne Reaves is a DMS (Dealer Management System) integrated with Carpay. Payments made through Carpay automatically sync to Wayne Reaves. The partnership is listed prominently on the dealer signup form and support documentation. Dedicated help articles exist for Wayne Reaves-specific integration support.
• AutoManagercoreTechnology or IntegrationAutoManager (both Desktop and DMO versions) is a DMS integrated with Carpay. Listed on the dealer signup form as a DMS option. Dedicated AutoManager-specific support articles are available.
• FrazercoreTechnology or IntegrationFrazer (both Hosted and Desktop versions) is a DMS integrated with Carpay. Listed on the dealer signup form as a DMS option. Dedicated Frazer-specific help articles exist including how to find the DMS ID in Frazer.
• DealerCentercoreTechnology or IntegrationDealerCenter is a DMS integrated with Carpay. Listed on the dealer signup form. Dedicated DealerCenter-specific support articles are available, including how to find the DMS ID and handle reinstatement after repossession.
• iDMS / DealerSocketcoreTechnology or IntegrationiDMS (also known as DealerSocket) is a DMS integrated with Carpay. Listed on the dealer signup form. Dedicated iDMS/DealerSocket-specific help articles exist including how to find the DMS ID number.
• BHPH Industry AssociationsOthersCarpay's website displays logos of BHPH industry associations that the company supports or is associated with, indicating industry alignment and association membership. The specific association names are displayed as image placeholders in the website source.

Scale indicators1 record

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Lendio: SMB lending marketplace connecting borrowers to multiple lenders. Adjacent fintech serving small businesses, including auto dealers, with credit intermediation workflows similar in shape to Carpay's role.
• Dealertrack (Cox Automotive): Auto finance origination and CRM platform owned by Cox Automotive. Provides dealers with credit application and F&I tools that overlap with the dealer-side functions Carpay enables.
• CDK Global: Large incumbent DMS and dealer software suite. DMS-side integration of payment features would compete directly with Carpay's BHPH-targeted offering.
• Reynolds and Reynolds: Long-standing DMS and F&I provider with established dealer relationships. Comparable incumbent that could expand into BHPH-style payment solutions.
• Cox Automotive / DealerSocket: Major DMS owned by Cox Automotive targeting broad dealership operations. Could embed Carpay-equivalent payment tools in its dominant dealer footprint, posing a material platform risk.

Direct peers

• DealerCenter: Dealer management system with a dealer app for deals, desking, and payments. Competes head-on for BHPH dealer attention and offers DMS-native payment workflows.
• defi SOLUTIONS: Loan servicing software platform purpose-built for auto lenders, including BHPH and subprime portfolios. Strongest direct overlap with Carpay on loan-servicing positioning and BHPH/subprime customers.
• RouteOne: Credit application and contract management technology connecting dealerships to lenders. Direct overlap with Carpay's dealer-side integration layer for auto finance workflows.
• AutoFi: Dealer F&I and online financing platform that sits between dealers and lenders. Direct overlap on dealer-facing payment infrastructure and finance workflow automation.

Emerging players

• PASS-Time: GPS-based payment and lot management solutions for BHPH and subprime dealers. Adjacent niche vendor whose payment-enforcement features overlap with Carpay's collections focus.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/channel/UC-rfiOsHervz8ah8T7hl8rQ
• Facebookfacebook.com/CarPayInc
• LinkedInlinkedin.com/company/carpay-inc

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds5 records

Investors6 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Carpay