LoopIt
One-to-one conversation engine enabling users to get shopping advice on online purchases, and share opinions and experiences.
| Date | Investors | Amount | Round |
|---|---|---|---|
| investor | €0.0 | round | |
N/A | Acquisition | ||
| Total Funding | 000k | ||
LoopIt offers a sophisticated software-as-a-service (SaaS) platform tailored for the automotive industry, enabling businesses to launch, manage, and scale their own car subscription services. Founded in 2020 by brothers Michael and Paul Higgins, the company emerged from their direct experience operating a digital car dealership and subscription service, HelloCars, which they started in 2017. This background provided them with first-hand insights into the operational complexities and market potential of flexible vehicle access, leading to the development of LoopIt as a purpose-built solution.
The company's core business revolves around providing a white-label technology platform to a diverse client base that includes original equipment manufacturers (OEMs), car dealerships, fleet operators, and car rental providers. The business model generates revenue through a combination of recurring software subscription fees and a consumption-based fee applied to the end-consumer's payment. This platform facilitates the entire subscription lifecycle, from customer-facing elements like online booking and automated billing to back-office functions such as fleet management, real-time vehicle tracking, and pricing optimization. LoopIt's system is designed to handle various mobility models—including subscriptions, rentals, and leasing—concurrently from a single, unified platform, allowing clients to adapt to shifting market demands.
LoopIt's service allows its clients to offer consumers a flexible alternative to traditional car ownership, where a single monthly fee typically covers vehicle access, insurance, maintenance, and roadside assistance. Since its inception, the company has secured significant funding to fuel its growth, including a $3.6 million seed round in 2022 and a $3.95 million pre-Series A round in 2024, with investments from firms like Tidal Ventures, Upswell, and Common Sense Ventures. Headquartered in Sydney, Australia, LoopIt has expanded its operations globally, with a presence in the United Kingdom, United States, Canada, and South Africa.
Keywords: car subscription software, mobility-as-a-service, automotive SaaS, fleet management platform, vehicle subscription management, automotive fintech, flexible car ownership, dealership software, rental management software, OEM mobility solutions, Paul Higgins, Michael Higgins, vehicle leasing software, mobility-as-a-feature, subscription billing, automotive technology, white-label subscription platform, car-as-a-service, vehicle asset management, digital dealership solutions