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DigniFi raises $14M , buys $275M in assets to grow auto repair finance

DigniFi, an app-based platform for financing auto repair, has raised $14 million in Series A funding from Austin, Texas-based BuildGroup and Exor Seeds, the venture arm of Exor N.V., which is the holding company of the Agnelli family, the controlling shareholders of Fiat Chrysler.

DigniFi also signed an agreement with Neuberger Berman Private Equity to buy $275 million in assets, which will allow it to grow its network of 5,000 auto service centers.

"After months of financial uncertainty, Americans are eager to get back to work and many will need their cars in working order to do that," Rick Counihan, CEO of DigniFi, said in a company release. "Our network of auto service centers has grown by 500 locations over the last 90 days, spurred by this rising demand."