Firm invests $10M in startup
A local investment firm has pledged $10 million to support an out-of-state startup’s car buying and selling platform.
Cascade Township-based Thornapple River Capital, or TRC, entered into an agreement with Denver-based Blinker to invest $10 million in the startup platform, according to Blinker.
“We are excited to be partnering with Blinker,” said Genesis Guanga, managing partner of TRC. “Leveraging the technology developed within the walls at Blinker, they have redefined and simplified the purchase process for automotive transactions, including providing financing seamlessly at the point of purchase.
“We look forward to working closely with Blinker’s management team as they pursue their strategic growth objectives.”
In connection with the investment, Brandon Kanitz, managing partner of TRC, and Ned Jannotta Jr., TRC senior adviser, will join Blinker’s board of directors.
“Our partnership with Thornapple will significantly accelerate our comprehensive strategy for improving the automotive buying experience,” said Rod Buscher, CEO of Blinker.
“Our mission is to put customers in control and provide the best experience possible for buying, selling, financing and refinancing their vehicle. I am extremely pleased that a respected, long-term-oriented partner like Thornapple shares our view about the vast opportunity ahead for Blinker.”
Thornapple River Capital
Founded in 2015, Thornapple River Capital is an alternative asset management firm specializing in private company investments.
It manages nine private funds investing in industries such as community banks, health care, technology, real estate and state-legalized marijuana companies.
Founded in 2013 by Rod Buscher, Blinker has developed a patented, differentiated transactional platform and operational process to support sellers, buyers and borrowers in the automotive sector.