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

Elliot Chun
June 14, 2024

On Tuesday, we shared our thoughts on the increasing pace of Crypto-related M&A on CNBC’s Crypto World.


Is crypto adoption actually further along than our industry thinks?


Yesterday, we were at The State of Crypto event by Coinbase (COIN) and the Financial Times in Manhattan where the headline was 56% of Fortune 500 executives say their companies have onchain projects, which is defined by an initiative using blockchain, crypto and/or Web3. In June 2024, even I am surprised by this statistic, which is a very important marker for the go-forward adoption of the technology.


I previously said that two-thirds of the S&P 500 will have onchain products and services by 2030 and the above stat indicates that traditional companies are adopting the technology at a quicker pace than expected. Obviously, there is a big difference between a project and a full product or service. We believe the velocity of innovation will continue to drive adoption faster than most anticipate.


For example, the Chief Investment Officer panel discussed what percentage of securities will be owned in a digital form on a blockchain in 5 years. All 4 panelists said 100% of securities will eventually be onchain, but the in-5-years responses ranged from 5% to 100%. My target has been and continues to be 75% of securities by 2030.


The report also notes the key barriers for F500 companies to engage onchain, which include a lack of trusted talent with the right skills, lack of understanding of the technology, uncertainty on how to get started, concerns about regulation eventually affecting use cases, and lack of funding or other resources. These barriers do not seem daunting to overcome.


The Bank for International Settlements (BIS) released a paper with the headline that 94% of the 86 Central Banks are exploring a Central Bank Digital Currency (CBDC). BIS offers a timeline of 6 years (2030) when they expect Central Banks to issue wholesale CBDCs. So are we estimating that almost every meaningful Central Bank in the world will have a live CBDC by 2035? Our industry actually needs this extra time because the current June 2024 version of our crypto infrastructure cannot support the entire world running digital currencies on crypto rails. 


Additionally, HSBC (HSBC) announced e-CNY (digital yuan) services for their corporate clients. The e-CNY is already in everyday use in China and now a foreign bank will provide its services for China’s CBDC. The e-CNY is controversial, particularly with its “controlled anonymity” surveillance design, but it’s notable that e-CNY is in full flight and is now accepted by a global systemically important bank (G-SIB).  How many others will follow? The answer is similar to the above. 100% of G-SIBs will offer CBDC and digital currency services. 


If more than half of the Fortune 500 is currently moving onchain today, if 100% of securities will eventually be owned in a digital form onchain, if nearly all the Central Banks will have their own version of a CBDC, and if 100% of G-SIBs will eventually offer digital currency services, is adoption a foregone conclusion? Have we definitively transitioned from asking “if” to asking “when”?


It’s going to be a fascinating journey from here to 2030, which is my answer to the when … unless it happens sooner.



We’ve been saying that crypto will play a role in U.S. elections and, this week, Trump met with Bitcoin Miners including Marathon (MARA), Riot (RIOT), Core Scientific (CORZ), CleanSpark (SPRK), and TeraWulf (WULF) which resulted in Trump’s much covered support for the BTC mining industry. 


Bitfarms executed a “poison pill” strategy in an attempt to fend off Riot’s proposed acquisition.


Gensler said in a budget hearing that Ether ETFs should be fully approved by September. 


Microstrategy (MSTR) announced a private offering of $500M of convertible senior notes for the purchase of Bitcoins.