Our friends Chris Coleman and Nicky Hinrichsen studied at Stanford’s Graduate School of Business from 2011 to 2013. On a trip to South East Asia, the two talked about entrepreneurial ideas in the car space and ended up starting a company called Carlypso.
At first, Carlypso helped individuals sell their cars to other individuals. Later on, Chris and Nicky pivoted from consigning privately owned cars to a consigning off-lease and rental vehicles.
In 2017, Chris and Nicky sold Carlypso to Carvana. The two founders couldn’t resist and decided to start a new company www.WithClutch.com.
The premise for the new business is this: car owners with high interest auto loans often end up with lot’s of negative equity. To address this problem, Chris and Nicky want to create a new auto loan product that rewards car owners for making their payments by reducing the interest rate of the loan over time.
Come listen to this part 1 of the #5liner. We are Brewin’ Solutions and all you have to do is Get You Some! Part 2
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