Loopit
“Can a vertical SaaS platform become the recurring-revenue billing and operations OS for the entire automotive mobility industry as ownership models shift from purchase to subscription?”
Founded2020
HQSydney, Australia
FoundersPaul Higgins, Michael Higgins
Total raised~AUD $7.55M
Latest roundPre-Series A, 2024
IndustryVertical SaaS / Automotive & Mobility
The story
Founded 2020 as a spinout from HelloCars, an online used-car dealer the Higgins brothers had built in 2017 that pioneered car subscriptions in Australia. Loopit productized the internal subscription tech as SaaS for OEMs, dealers, and rental operators. Originally focused on subscription-only, the platform has since broadened to rental, leasing, and fleet management — becoming a general-purpose recurring-revenue OS for the automotive industry, and expanding from AU/NZ to the UK (2022) and US (2023).
Last 12 months
Product timeline
2017
Founders launch HelloCars, Australia's first fully online used car dealership· pivot
2019
HelloCars launches in-house car subscription service· pivot
2020
Loopit founded as car subscription enablement platform based on HelloCars technology· launch
2021
Partnerships with Eagers Automotive and Motopool; powers ~70% of AU/NZ subscription vehicles· partnership
2022
Expansion into United Kingdom; named Top 50 Technology Startup by Deloitte and AFR· expansion
2023
Expansion into the United States· expansion
2024
Raised $3.95M Pre-Series A to expand US market and grow into full-service mobility platform· funding
2025
Launched TruPass (KYC/fraud) and FlexFleet (B2B)· launch
The stack
4 layers disclosed in Loopit’s embedded-finance stack
Insurance
in the full report
KYC
in the full report
Accounting
in the full report
Accounting gap: significant
9 more providers across 3 layers, with confidence-scored evidence and source URLs, are in the Embedded Finance Index report.