CHAMPtitles, the year-old startup that digitizes the vehicle titling process, announced it has raised a $5 million round of capital from several investors.
CHAMPtitles is one of four businesses of Ownum LLC, founded by former auto dealer Bernie Moreno and Shane Bigelow, formerly director of the Cleveland0based private wealth practice of money manager AB Bernstein.
The investment round will enable CHAMPtitles to improve its technology while expanding its sales force and increasing marketing efforts. Bigelow said in an email that this is the first round of capital for CHAMPtitles beyond the founder’s capital, the amount of which he declined to disclose.
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Story excerpt provided by Crain’s Cleveland Business.
Written by Jay Miller.
Originally published April 8, 2020.