Fintech Startup Ridero Announces Strategic Partnership with AFG

The partnership combines AFG’s lending programs, residual value expertise and guarantees with Ridero’s technology and dealer network. It will focus on expanding AFG’s existing programs and helping lenders launch and grow new residual-based financing products.

Ridero will add AFG’s existing lending programs to its platform, giving AFG’s lender partners another way to originate loans while providing Ridero dealers with more financing options.

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The second part of the partnership will help banks, credit unions, specialty lenders, OEMs and dealer groups launch or expand vehicle leasing for new and used cars without having to build their own specialized technology and residual value systems.

Together, Ridero and AFG will expand existing residual-based financing programs and make it easier for new lenders to enter the market.

"The first part of this partnership is simple: help dealers get more deals done and help AFG's lender partners originate more business," said Brock Thompson, Co-Founder and CEO of Ridero. "By bringing these programs directly into the dealer workflow, we can expand their reach and create incremental opportunities for everyone involved."

"Residual-based financing has proven its value: borrowers save thousands in lower payments, lenders capture incremental volume, and dealers close deals faster. It's a win - win - win. Yet these programs remain concentrated among a handful of players. Through this partnership with Ridero, AFG continues to pursue its mission to expand access to residual based financing and remove the infrastructure burden that's historically kept many lenders on the sidelines," says Richard Epley, Auto Financial Group's CEO.

About Ridero

Founded by Brock Thompsonm and Natalie Williams, Ridero is a financial technology company that provides infrastructure for vehicle leasing and residual-based financing. It' AI powered platform connects dealers with financial institutions, and integrates residual-based financing products into existing automotive retail workflows.

About AFG

Founded in 1999 by Richard Epley, Auto Financial Group (AFG) is a Houston-based company that provides residual-based vehicle financing, leasing and vehicle remarketing services to financial institutions across North America.

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