Startups Plug and Yendo emerge victorious in the 2024 Demo Challenge

NASHVILLE — History was made today at the Auto Finance Summit East as two winners were crowned in the demo challenge, a first in the event’s history.

Eight companies took the stage to present digital solutions to industry pain points, with judges Amira Aly, founder and CEO of VoltAlytics Consulting, and Burak Cendek, partner at AutoTech Ventures, presiding over the competition.

The winners, Plug and Yendo, tied for first place. Plug, an online app offering wholesale electric vehicle (EV) auctions, aims to provide dealers with more transparent transactions using EV-specific data. CEO Jimmy Douglas highlighted the app’s real-time auctions and daily drop feature, catering to dealers’ needs for 24/7 access to inventory.

Yendo, on the other hand, offers credit cards with borrowing limits based on the customer’s car value. CEO Jordan Miller emphasized the company’s mission to alleviate financial constraints for consumers facing high interest rates and fees, with credit limits ranging from $450 to $10,000 based on app-collected information.

Both companies impressed the judges with their innovative solutions, marking a significant milestone in the event’s history with a dual win. Last year’s winner, Karus AI, was also mentioned, showcasing the continued growth and innovation in the auto finance industry.

The Auto Finance Summit East demo challenge continues to be a platform for cutting-edge technologies and solutions, driving the industry forward with creativity and ingenuity.