British Car Auctions (BCA), a B-2-B used vehicle marketplace operating in the UK and Europe, has extended its Solifi Wholesale Finance contract.

The move is aimed at supporting the expansion of BCA’s wholesale finance offerings.

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Dealers buying vehicles in BCA’s online sales can use the BCA Partner Finance service to fund the entire purchase at BCA. It applies to both cars and light commercial vehicles.

Solifi’s software-as-a-service (SaaS) technology aids BCA’s customers in stocking their decisions while freeing up capital, which can be used for growth investments.

Each year, BCA Partner Finance is said to process over 100,000 contracts and £1bn of funding.

Solifi’s wholesale finance platform aims to help customers manage the end-to-end stocking and wholesale financing of dealer inventory.

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The technology is said to provide access to comprehensive portfolio and risk management processes, a dealer self-service request and an account management portal while streamlining how assets are funded via supplier channels.

BCA Partner Finance managing director Malcolm Thompson said: “The latest cloud-based version of the Solifi Wholesale Finance platform will support our unique digital buying and funding journey for motor dealers and is scalable as we continue to expand our wholesale finance operation.

“The platform is highly configurable to our needs, easy for our trading partners and dealers to use, and expedites the time it takes to add new products.”

Solifi VP sales for EMEA James Redfern said: “We are excited to continue our long-standing partnership with BCA as they invest further in their wholesale finance offering.

“This is a fantastic endorsement of our wholesale finance platform, which is designed for both small- and large-scale businesses needing cost-effective, scalable technology to meet dynamic customer requirements.”