“Our team has worked very hard to grow and establish our company as a leader in the highly competitive extended auto warranty space,” commented Ron Roberts, Protect My Car’s VP of Business Development.
(PRWEB) May 12, 2017
Protect My Car, one of the nation’s leading providers of extended warranty service contracts for almost all vehicle makes and models, announced today that is has secured an increase to its existing credit facility. Protect My Car has increased its credit facility to $13 million dollars. Great White Shark Opportunity Fund made its first investment in Protect My Car three and a half years ago. This project was led by its Chief Investment Officer, David Chessler. Great White Shark Opportunity Fund has participated in all three rounds of funding completed by Protect My Car.
The Series C funding is the largest to date that Protect My Car has acquired, and is in alignment with the company’s strong continued performance in the growing aftermarket warranty marketplace. Series A funding of $3 million closed in July 2013, and Series B funding of $4 million closed in September 2015.
Among other key investments that accelerate sales growth, Protect My Car intends to use the new funding to enhance the company’s proprietary technology, create a customer-centered online account management system, and build an online platform that increases efficiency across its sales and development teams.
“Our team has worked very hard to grow and establish our company as a leader in the highly competitive extended auto warranty space,” commented Ron Roberts, Protect My Car’s VP of Business Development. “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.”
More information on Protect My Car is available at https://protectmycar.com/.
About Protect My Car
Protect My Car is one of the nation’s leading providers of extended vehicle service contracts. The company’s extended coverage plans are ideal for consumers with cars less than 10 years old and with fewer than 150,000 miles, and whose manufacturer’s warranty has expired or will expire soon. Consumers with vehicles older than 10 years and more than 150,000 miles can take advantage of Protect My Car’s Ambassador line of policies, which include 24/7 roadside assistance, rental car reimbursement, and coverage of between 25-50 percent of repair bills. All of the company’s policies are offered with a “free look” trial period. If a new customer is not completely satisfied, they can contact the Customer Service Department within 30 days and receive a full refund of their down payment.
About Great White Shark Opportunity Fund
The Great White Shark Opportunity Fund specializes in asset based debt lending to small and middle market businesses. The Fund investments will be structured as senior secured debt with warrants, equity securities or other upside components. The primary purpose of the debt instrument is to provide a consistent monthly fixed income return while also providing downside protection through a senior secured interest. The Fund will seek to build a broad based and diversified pool of investments in growth oriented companies.