Weekly Wrap: Rise of new partnerships, acquisitions
The past week brought news of a new acquisition and partnership within the auto finance industry.
Stellantis N.V. agreed to acquire F1 Holdings Corp., the parent company of Houston, Texas-based subprime lender First Investors Financial Services Group, in a step toward establishing the company’s own captive finance business. Meanwhile, Wells Fargo Auto has expanded its ability to offer digital services by partnering with AutoFi.