RouteOne's e-contracting platform exceeded $200 billion in contract funding as of June 8, the company said last week. The milestone reflects the industry's shift toward e-contracting.
By way of context, the company said, RouteOne's first $100 billion in contract funding came over seven years. The next $100 billion? Over the past 20 months.
"It's a clear demonstration that the industry is making a long anticipated shift to e-contracting, which we've been doing for a long time," RouteOne CEO Justin Oesterle told Automotive News. "We're glad that these benefits that we've been able to give our customers have proved successful and will lead to further growth of this platform."
RouteOne said the $200 billion in funding came as the company exceeded 7.5 million booked e-contracts. While those contracts were all for financing, Oesterle said, RouteOne has some clients, such as Toyota, that use the platform for insurance contracts as well and RouteOne expects more to come.