Champ Titles Raised $18M from Point72 Ventures
Champ Titles Raised $18M from Point72 Ventures

Architect Partners was the exclusive Financial Advisor to Champ Titles.

Transaction Overview

On March 27, 2024, Cleveland-based digital title and registration platform Champ Titles announced an $18 million Series C equity round led by Point72 Ventures with participation by existing investors.

Company Description

Champ Titles provides a digital title and registration suite to streamline the vehicle titling process. Their platform enables the creation of legal, digital titles for easy transfer and verification, serving insurance carriers, lenders, state governments, auto dealers, and owners. Stakeholders, including state motor vehicle departments, lenders, and vehicle owners, benefit from a unified and transparent system, where all information is readily accessible and transaction times are markedly reduced. The governance of the digital platform is established through clear guidelines, ensuring all parties adhere to the updated processes and regulations.

Champ Titles’ success is measured by the elimination of more than 5 million pieces of paper annually on average per state; a reduction in processing time from 40-60 days to a matter of hours; increased productivity of DMV title clerks processing more than five times as many titles per day; and the improved experience for consumers in each state that has adopted Champ Titles’ solutions. Over the last twelve months, the company has successfully onboarded new states including New Jersey, Kentucky, and Illinois, and expanded its relationship with West Virginia by creating the first National Digital Titling Clearinghouse (NDTC). Through these efforts, the company has grown rapidly with revenue increasing by more than 300% year over year. 

Founded in 2018 by CEO, Shane Bigelow, the company now has 63 employees and is headquartered in Cleveland, Ohio. 


In this Series C funding round, Champ Titles raised $18M from Point72 Ventures and existing investors including W.R. Berkley Corporation, Eos Venture Partners, Guidewire Software, and Rev1 Ventures, bringing the total amount raised since inception to $45M. 

In the prior Series B round, Champ Titles raised $13M from Guidewire Software, Eos Venture Partners, and Ally Ventures.

Before that, Champ Titles raised $13.5M in 2021 in a Series A. Emergents, now Architect Partners, served as the exclusive Financial Advisor for that financing. 


Champ Titles’ biggest competitors are existing state DMVs deciding to be a software company and developing solutions on their own or via large systems developers.  However, they also compete with other digital title networks such as Cario and Oxhead Alpha/Tezos. In addition, technology-enabled DMV solutions such as Fast Enterprises are seen as competitive but don’t offer the same efficacy.


Architect Partners’ Perspective

Champ Titles’ SaaS-based solutions present a compelling example of blockchain-enabled infrastructure solving real-world problems.  By focusing on the needs and pain points of legacy auto title, registration, and lien processing, Champ has leveraged the power of blockchain to transform critical government services.  The result is exponentially accelerated processing time for DMV constituents, with improved accuracy and reduced cost.  Yet Champ’s solutions capture many key benefits of on-chain data processing – which include trust, transparency, data integrity, security, and efficiency – without users even being aware of their blockchain foundations.  

While much attention is focused on recent resilience in crypto asset prices, we believe 2024 will see significant growth in non-speculative enterprise applications for distributed ledger technology.  Champ’s successful raise demonstrates investor interest in practical and scalable solutions to real-world problems.

Crypto Public Companies Snapshot

Crypto Public Companies Snapshot

Todd White
August 18, 2023

Our public index is down 10.5% this week, driven largely by the pullback of BTC, ETH, and across the crypto asset spectrum. Some cite the news of SpaceX’s offloading triggering the pullback, while others attribute the moves to large-scale liquidations on leading derivatives exchanges following heavily-leveraged open positions that were ripe for a feedback loop. As usual, it’s likely a combination of myriad factors that can be hard to predict, analyze or correlate to specific movements. The Network Operators were the hardest hit sub-segment on our index, hardly surprising given their position as leveraged Bitcoin plays.


Also notable is PayPal’s August 7 launch of PYUSD, its US$-backed regulated stablecoin issued by Paxos, available immediately for use in payments through PayPal’s digital wallet. Although PayPal has been muted of late on their crypto and blockchain initiatives, their digital wallet and commerce segment – which includes P2P, remittances and crypto – is one of three strategic pillars (along with network/credit and payment service provider initiatives).  On the heels of the PYUSD launch, PayPal also announced its integration of Ledger Live on August 16th to provide secure crypto purchases using the Ledger Live app directly from a PayPal account.


The opportunities that the PYUSD present are potentially transformative. José Fernández da Ponte, PayPal’s crypto SVP, was understated and cautious in a recent interview, and he highlighted their long-term and patient view towards blockchain-based payments. But one need only ponder how the embedded yield on the assets backing their new stablecoin might be used to mitigate both merchant and consumer payment costs to begin to grasp the potential.


We will watch enthusiastically as PayPal’s strategy takes shape and plays out, and believe their renewed focus merits re-inclusion in our Public Crypto coverage and has brought them back as a leading “crypto-influenced” player in our coverage index, incepting this week.