Fair.com

Santa Monica, CA, USA Auto & Mobility Private

Fair (Fair Financial Corp., later Fair Technologies, now Fair Holdings, Inc.) is a Santa Monica, California-based automotive finance and mobility platform founded in 2016 by Scott Painter (the founder of CarsDirect and TrueCar) and Georg Bauer. Fair originally launched a mobile-app-based vehicle subscription product that allowed consumers to lease used cars from a network of dealer partners with flexible month-to-month terms and no long-term commitment. The company raised more than $2 billion in combined equity and debt, headlined by a $385M Series B led by SoftBank Vision Fund in December 2018 at a $1.2B post-money valuation. Fair acquired Uber's vehicle leasing program in 2018 to offer weekly rentals to rideshare drivers, but rising insurance costs and unsustainable unit economics forced it to shut down Fair Go for Uber drivers in February 2020. Following 40% layoffs and the departure of CEO Scott Painter and CFO Tyler Painter in October 2019, the company pivoted under new CEO Bradley Stewart (appointed May 2020) and later rebranded as Fair Technologies, ending its consumer subscription and leasing operations in August 2021 to focus on a B2B dealer-listing online marketplace platform. In March 2022 SoftBank (which had restructured to retain control of Fair) funded Shift Technologies' $15M cash + 2.5% equity acquisition of Fair's dealer marketplace technology and team, while Fair's residual leasing/subscription book was sold to CFAM Financial Services of Dallas. The corporate shell was reorganized as Fair Holdings, Inc., Scott Painter's holding company, and on January 21, 2026 a Fair Holdings-led syndicate (PenFed Credit Union, Zurich North America, AutoNation, Atlantic Coast Automotive, Impel AI, ID.me, CRIF, and In The Car) completed a $227M take-private acquisition of TrueCar, Inc. (NASDAQ: TRUE) at $2.55/share, returning Painter as CEO of TrueCar and naming Georg Bauer Chairman of Fair Holdings.

Overview

Company data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Founded

2016

Employees

11–50

Total Funding

$885M

3 rounds

Funding

Total raised $885M across 3 rounds

Funding data and valuation marks are estimates and may be incomplete, stale, erroneous, or revised.

Last updated 06-25-2026

Latest Round

Type

Debt facility

Date

2019

Amount

$500M

Valuation

Lead Investors

SoftBank
DateRoundAmount RaisedValuationLead Investors
2019 Debt facility $500M SoftBank
December 2018 Series B $385M SoftBank Vision Fund
October 20, 2017 Strategic / Series A-equivalent Not disclosed BMW i Ventures

Leadership

  • Scott Painter

    Founder & CEO, Fair Holdings, Inc. (also CEO of TrueCar following January 2026 take-private)

    LinkedIn
  • Georg Bauer

    Co-founder; Chairman, Fair Holdings, Inc.

  • Bradley Stewart

    Former CEO (May 2020 - 2022, led pivot to marketplace and asset sales)

Competitors

Competitor list is illustrative and may be incomplete, stale, or erroneous.

  • Autonomy

    EV subscription platform founded by Scott Painter (Fair's own founder) in 2021 after he departed Fair; operates the largest U.S. nationwide fleet of EVs available via monthly subscription.

  • Carvana

    Online used-car retailer that, like Fair, targeted digital-native auto buyers; pivoted to omnichannel and remained public after a near-bankruptcy in 2022-23.

  • Shift Technologies

    Online used-car marketplace that acquired Fair's dealer-listing technology in May 2022 (funded by SoftBank) and itself filed Chapter 11 in October 2023.

  • TrueCar

    Auto pricing and car-buying marketplace founded by Scott Painter; taken private by Fair Holdings in a $227M syndicate deal on January 21, 2026.

  • Vroom

    Online used-car retailer that struggled with the same unit-economics problems that doomed Fair's subscription model; wound down its e-commerce business in 2024.

  • Canvas (Ford)

    Ford's car-subscription unit (acquired from Fair in 2017 and later exited by Ford); represented the OEM-led approach to subscription competing with Fair's dealer-network model.

Fair.com Investment FAQ

Public status and buying access

No. Fair.com is a private company and does not have a public stock ticker or trade on a public stock exchange. Its shares are generally held by founders, employees, investors, and other private shareholders. Buyers and sellers may be able to transact in Fair.com shares through private secondary transactions, but any transaction depends on share availability, buyer and seller agreement, transfer restrictions, company approval rights, and any applicable right of first refusal. There is no guarantee that Fair.com will complete an IPO or other liquidity event.

Yes, it is sometimes possible to buy Fair.com shares pre-IPO through private secondary transactions. This depends on finding a willing seller, company approval, and satisfying any transfer restrictions or rights of first refusal.

Buyers interested in buying Fair.com shares on the secondary market typically do so through SetterVC and other secondary-market platforms, subject to eligibility requirements, share availability, transfer restrictions, and issuer approval. Buyers may need to satisfy sophistication, accreditation, institutional, platform, regulatory, or other eligibility requirements before participating. Once eligible, buyers may be able to view listings, make bids, and work with a licensed broker through the transaction process. Buyers should ensure they have appropriate legal and financial advisors guiding them before completing any transaction.

Valuation and funding

Fair.com's latest disclosed funding round was a Debt facility round in 2019. The round raised approximately $500M, with SoftBank listed as disclosed lead or major investors. Primary funding rounds are different from secondary transactions: in a primary round, capital goes to the company, while in a secondary transaction, investors buy existing shares from current shareholders. Funding-round data reflects publicly reported or collected information and may be incomplete.

Fair.com has raised approximately $885M in disclosed funding across 3 rounds. These figures reflect primary capital raised by the company and do not include every possible secondary transaction, undisclosed round, debt facility, or private transfer. Reported funding totals can change as new rounds are announced or older round details are corrected. Eligible users can use SetterVC to track Fair.com's funding history alongside private-market activity where available.

Fair.com's disclosed investors include SoftBank, SoftBank Vision Fund and BMW i Ventures. Investor lists are based on public reporting, company announcements, and collected funding-round data, and may be incomplete. Participation in a prior funding round does not mean those investors are currently buying or selling shares. On SetterVC, eligible users can review Fair.com's funding history, valuation history, and private-market activity alongside other venture-backed companies.

Market context

Fair.com's most-cited competitors include Autonomy, Carvana, Shift Technologies, TrueCar, Vroom and Canvas (Ford). Investors often compare these companies by sector, product focus, valuation, funding raised, growth signals, investor base, and private-market activity.

Secondary-market demand for Fair.com shares can be affected by company performance, revenue growth, profitability, funding history, valuation, investor interest, sector momentum, public-market conditions, expected timing of a liquidity event, and the availability of shares for sale. Demand can also be affected by transfer restrictions, company approval rights, right of first refusal processes, limited information, and the price expectations of buyers and sellers. Strong demand does not guarantee strong pricing, liquidity, or investment returns. Weak demand does not necessarily reflect the company's long-term prospects. Demand signals should not be treated as a recommendation or prediction of investment performance. Buyers and sellers should treat demand signals as informational and conduct their own diligence before transacting.

Selling and transaction mechanics

Sellers often rely on intermediaries and platforms, such as SetterVC and other secondary-market platforms, to identify potential buyers. The exact process varies by company and transaction, but sellers often begin by confirming their ownership, desired price, transferability, and any company approval or notice requirements. If the seller agrees with a buyer on acceptable price and terms, the company may need to be notified through a share transfer notice or similar process. If a right of first refusal, company approval right, or other transfer restriction applies, the seller may need to wait until that process is completed. The parties may then execute a purchase and sale agreement, complete required transfer documentation, and close if all required conditions are satisfied. Sellers should always seek proper legal and financial advice before completing the transaction.

Yes, current and former Fair.com employees, early investors, and other existing shareholders may be able to sell vested shares before an IPO through a private secondary sale. This is not automatic; it depends on whether the shareholder has transferable shares, whether there is buyer demand, and whether the company's governing documents permit the transfer. Many companies require prior notice, company approval, or a right of first refusal before shares can be sold. Sellers should also seek proper legal and financial advice before proceeding.

A Fair.com secondary transaction usually involves an existing shareholder selling shares to a buyer before a public listing. The buyer and seller typically agree on price, number of shares, share class, and closing conditions. The seller may then need to notify Fair.com through a share transfer notice or similar process. If Fair.com or existing investors have approval rights, transfer restrictions, or a right of first refusal, those steps may need to be completed before the transfer can close. The parties typically enter into a purchase and sale agreement, complete any required transfer documentation, and close only if the necessary conditions are satisfied. Timing and certainty can vary by company and transaction.

In most private secondary transactions, parties commonly use a purchase and sale agreement that outlines price, terms, and conditions. They may also use share transfer documentation, often a stock transfer notice, share transfer notice, transfer instruction, or similar document, along with any required company approval or right of first refusal materials. Proof of ownership, such as a cap table entry, share certificate, brokerage statement, issuer confirmation, or administrator confirmation, may also be important. Buyers often request recent company financials, but private companies may limit disclosure. Since every deal varies, buyers and sellers should consult legal and financial advisors to understand which documents are needed.

Risk, diligence, and investor caution

Buying Fair.com shares pre-IPO is risky. Shares are illiquid, no IPO or liquidity event is guaranteed, valuations can change, transfers may require company approval, and private companies may provide limited financial disclosure. Be prepared for total loss. SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, verify information, and seek independent legal and investment advice before proceeding.

Private secondary shares are typically illiquid. Unlike public stocks, there is no active public market, so selling them can be difficult and time-consuming. Sales depend on finding a willing buyer and often require company approval. Investors should be prepared to hold the shares for an extended period, with no guarantee of a future sale. Always assess your need for liquidity before investing.

SetterVC and Setter Capital do not provide due diligence, legal, tax, accounting, valuation, or investment advice. Buyers must conduct their own due diligence, including verifying ownership, transferability, legal structure, company approval, and assessing the company's prospects. SetterVC and Setter Capital do not provide advice on whether an investment is good, what price to pay, or what the best bid or ask is. SetterVC and Setter Capital may share documents in some circumstances, but it does not guarantee their accuracy or completeness. Due diligence is essential. Seek legal and investment advice as needed.

Before buying Fair.com shares, a buyer should try to review the share class, price per share, implied valuation, transfer restrictions, ROFR process, company approval rights, seller ownership evidence, recent financing or tender-offer information, available financial information, information rights, resale restrictions, tax considerations, and expected liquidity paths. Not all information may be available for a private company. Buyers should confirm available diligence, process details, and information needs with their own legal, tax, and investment advisers.

SPVs carry risks. Examples include the need to confirm the company allows SPV-based transfers, verify that the SPV truly owns the shares or interests it claims to own, and ensure it has not sold more interests than it holds. Due diligence is essential. Seek legal and investment advice as needed.

Forward contracts carry risks. Examples include the seller refusing to transfer the shares at the future date, even if the seller owns them, the seller going bankrupt with creditors claiming the shares, or the seller committing the same shares to multiple parties. Due diligence is essential. Seek legal and investment advice as needed.

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