Capstreet-backed TradePending Acquires Snapcell
Adds video engagement tool to personalize car dealership interactions
TradePending, a sales enablement and consumer experience software platform for car dealerships, announced that it has acquired Snapcell, a SaaS automotive video marketing platform that helps car dealerships build trust and improve customer engagement through personalized video solutions. Financial terms of the transaction were not disclosed. TradePending is backed by Capstreet, a Houston-based lower middle market private equity firm.
Founded in the U.K. in 2016, with U.S. headquarters in Tampa, FL, Snapcell provides a dynamic suite of visual solutions to automotive dealers worldwide to deliver a more efficient and effective purchase experience to their customers. Snapcell’s communications platform offers a robust set of products to boost user engagement and support dealerships’ sales, service and BDC departments.
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“We believe Snapcell’s solutions fit perfectly into our mission of ‘simple automotive’ by bringing dealers and consumers together,” said Brice Englert, CEO of TradePending. “TradePending has always strived to bridge the information divide between consumers and dealers with easy-to-understand data about trade-ins and vehicles of interest. Now with Snapcell, we will be able to bring people together through personal video communication and genuine human interaction. We believe the addition of Snapcell will change the automotive sales and service experience for our dealers and improve trust, transparency, sales, and overall customer loyalty.”
“The team at TradePending understands the importance of inspiring trust in automotive consumers, and we look forward to working together and leveraging their strong reputation in the auto industry,” said Brent Williams, CEO and Founder of Snapcell. “Snapcell’s solutions complement TradePending’s existing tools, and by combining forces, we expect our customers to be better positioned to improve sales and operations across their dealerships.”
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“When it comes to an automobile purchase, ‘seeing is believing,’ and a real-time, personal video interaction is the next best thing to visiting a dealership in person,” said Adrian Guerra, Partner at Capstreet. “We welcome the Snapcell team and look forward to continuing to support TradePending’s growth.”
Presidio Technology Partners acted as financial advisor to Snapcell in this transaction.
