Car warranty and insurance startup Protect My Car has secured $7m in a Series C funding round.
The investment for the Tampa, Florida-based company comes from Great White Shark Opportunity Fund.
The company launched in 2005 as an extended warranty service for vehicle less than 10 years old and with fewer than 150,000 miles and whose manufacturer’s warranty has expired or will expire soon.
In April Protect My Car also announced a home and auto insurance offering.
It will use the new financing to accelerate sales growth as well as enhance its technology including building an online account management system and platform to increase efficiency across its sales and development teams.
Protect My Car’s VP of business development Ron Roberts commented: “Our team has worked very hard to grow and establish our company as a leader in the highly competitive extended auto warranty space.
“Per this most recent round of funding from our outstanding and visionary partners at GWSOF, we have every confidence that we are positioned to exploit significant growth opportunities, and optimize solutions that better serve our roster of customers across the country.”
The investment brings Protect My Car’s total funding to $14m with it previously raising a $4m Series B round in September 2015.
Copyright © 2017 FINTECH GLOBAL
Copyright © 2018 RegTech Analyst
