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New Carro Hire Shows How Vehicle Subscriptions Are Growing

PYMNTS

News has emerged, via Bloomberg , that Singapore-based automotive subscription operation Carro has gained the top automotive investment banker for HSBC in Asia as the company’s new chief financial officer. Drivers will be able to access Mercedes-Benz vehicles in Philadelphia and Nashville with the launch, the company said in an announcement.

Nashville 130
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Ford Drops Out of Vehicle Subscriptions, While The Space Continues Acceleration

PYMNTS

The venerable automaker has agreed to sell its own vehicle subscription operation to Fair, a startup in this space. Fair reportedly will buy Ford’s Canvas operation, though terms remain undisclosed. In addition, Mercedes-Benz Collection is expanding its Nashville, Tennessee offering to include the Premier tier.

Georgia 100
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2021 GonzoBanker Awards

Gonzobanker

Lots of tech and operations to clean up, it appears, but no solid bank is better qualified than the team from Minneapolis. This is an innovation-seeking franchise that has built a solid brand and never got over its skis in execution. Randy Stevens , CEO , First Farmers and Merchants Bank , Nashville TN. Acronym of the Year.

Fintech 143
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11 Lessons From Startup Chapter 11s

CB Insights

The company announced it was effectively ceasing operations immediately and filing for Chapter 11 bankruptcy, putting more than 1,100 people out of work overnight. The company’s assets were acquired by Q Holdings in 2015, and the firm quietly relaunched the Quirky brand in 2017. This would be Munchery’s downfall.

Apple 78