Autonomy

The new SaaS platform is designed for OEMs, captive finance companies, fleet operators, and car dealerships, enabling them to launch their own vehicle subscription programs without bearing debt or residual value risk. The business now operates on a licensing and SaaS revenue model. This pivot followed a period where the company faced significant challenges due to price cuts in the EV market, which devalued its fleet and necessitated a workforce reduction and new capital infusion. Prior to this change, Autonomy provided flexible, short-term car subscriptions, primarily for Tesla models, managed entirely through a mobile app. The service, which included maintenance, registration, and roadside assistance, positioned itself as an alternative to traditional auto loans and leases, requiring a minimum three-month term before becoming a month-to-month plan.

The founders, Scott Painter and Georg Bauer, have a long history of disrupting the automotive industry. Painter founded innovators like CarsDirect.com and TrueCar, focusing on making car buying more transparent and convenient. Bauer is a veteran of auto finance, having held executive roles at Mercedes-Benz Credit Corporation, BMW Financial Services, and Tesla, where he built out its financial services operations in Europe and Asia. Together, they previously co-founded Fair, a used-vehicle subscription company that pioneered the Car-as-a-Service (CaaS) category. The Autonomy brand itself was acquired in November 2021 from Micro Focus (previously a Hewlett-Packard company) to build a global mobility brand.