News

The Savings Group Acquires Tresl to Broaden Auto Marketplace

Portfolio Company News - April 26, 2022

AUSTIN, Texas and DENVER, April 26, 2022 (GLOBE NEWSWIRE) -- The Savings Group have announced the acquisition of Tresl, the third auto finance and refinance brand to join their growing operating unit. Tresl joins RateGenius and AUTOPAY, which merged and formed The Savings Group in July of 2021.
The strategic addition of Tresl to The Savings Group secures the strong position they have in the auto finance and refinancing industry across the United States. Tresl, alongside RateGenius and AUTOPAY, will create an even more diversified marketplace for consumers and continue to provide the market’s best lending rates and loan savings while delivering volume growth to its lender network and business partners.
The Savings Group employs more than 1,000 team members between Austin, Texas and Denver, Colorado. With an expanded network of 200+ lenders representing all 50 states, TSG provides customers with a full spectrum and robust lending marketplace.
“We are thrilled to join The Savings Group as a portfolio company alongside leading brands AUTOPAY and RateGenius,” said Tresl’s long-time CEO Christine Pierson, who will retain her role leading the team. Pierson will assume the newly-created position of President of The Savings Group and participate in Board of Director meetings.
“For over 15 years, Tresl has served consumers purchasing off-lease and off-fleet vehicles as well as those refinancing their auto loans with a cutting edge, digital experience. The Savings Group believes in the model we have built, and together, through shared resources and expertise, we will unlock even more value for our business partners, strategic lending partners, and consumer customers.”
Seth Meyer, the Co-CEO of The Savings Group, is excited at the opportunity to work with this strong brand and provide consumers with even more options for their auto finance and refinancing needs.
“We welcome Tresl employees, customers, and partners into The Savings Group,” said Meyer about the acquisition. “We’ve been following their growth and success for years and after our first conversation with the Tresl executive team, we knew we were perfectly aligned on the mission to help drivers save time and money on their auto loans.”
The acquisition takes effect immediately and will develop in the coming months, but won’t disrupt the services Tresl and The Savings Group provides to their clients.
About The Savings Group
Out of the merger of AUTOPAY and RateGenius has come the most diversified consumer marketplace for automotive finance, refinance, and protection plans: The Savings Group. The combined company will offer consumers more borrowing options and flexibility through our proprietary, web-based platform, with faster and easier methods to finance vehicles and obtain significant payment savings. With the addition of Tresl, The Savings Group has more than 1,000 employees between its Austin and Denver hubs.
About Tresl
‚ÄčTresl intelligently connects customers with personalized financial resources for auto purchasing & refinancing from our network of lenders, delivering savings into the palm of their hands. Throughout our end-to-end process, our customers receive the support of cutting-edge financial technology and a consultative team of expert advisors so they can make the financial decisions that are right for them. Since Tresl’s inception in 2007, we have helped facilitate over 100,000 auto transactions.
Media contact:
Darcy Cudmore
media@rategenius.com