SANTA MONICA, Calif., May 11, 2021 -- NXCR, the fintech and insurtech vehicle subscription platform, announced that consumer finance technology and mobility executive, Martin Prescher, has joined the company as Chief Technology Officer. In his role, Martin will be responsible for all platform technology and innovation and will oversee the engineering and data teams.
Martin previously worked at PwC leading their banking and automotive innovation and technology center, developing bespoke software solutions and go-to-market strategies for consumer finance, retail banking and automotive companies. Prior to that he was the Chief Technology Officer at AutoGravity, an automotive finance marketplace for consumers, dealer partners and OEMs funded by Daimler AG, Mercedes-Benz Financial Services and Volkswagen AG.
"At NXCR we're extremely passionate about the consumer experience and building intelligent digital bridges between the customer and the car. Martin is a superstar physicist, technologist and data scientist with a Ph.D. in Artificial Intelligence. And he has a background in building shopping solutions for auto finance companies, which makes him a unicorn in the industry and a perfect fit for what we are doing at NXCR. Martin's leadership is going to be critical in building our modern subscription platform," said Scott Painter, Founder & CEO, NXCR.
Vehicle subscriptions are a new and quickly growing model in the automotive sector, pioneered by NXCR Founders Scott Painter and Georg Bauer who created Fair--the first ever used vehicle subscription service. Vehicle subscriptions provide consumers with simple, flexible and affordable access to mobility via a mobile app.
"I'm excited about the future of mobility that NXCR is advancing, moving away from single vehicle transactions around an asset to mobility-as-a-service," said Martin Prescher, Chief Technology Officer at NXCR. "Life is more dynamic than ever, and most consumers don't want to go into long-term debt. They want access to mobility and transparency. NXCR is the next game changer in our industry. I'm super excited to be a part of this revolution."
NXCR's vehicle subscription model bundles traditional vehicle ownership costs including monthly payment, insurance and maintenance into a single transparent monthly fee. NXCR is evolving the traditional ownership paradigm into a payments model, and is akin to leasing wherein the consumer does not own the asset and pays only the portion of the ownership related costs for as long as they wish to subscribe to the vehicle.
Martin holds a Ph.D. in Operations Research with a focus on Artificial Intelligence from Bundeswehr University Munich, a MSc. in Physics and Applied Mathematics from the Free University of Berlin and an MBA from ESMT Berlin. He was a Fulbright Fellow in Computational Astrophysics and High Performance Computing at the University of Arizona and a graduate student in Computational Fluid Dynamics (CFD) at the University of California, Santa Barbara.
NXCR is a technology company on a mission to ease accessibility to affordable transportation. It was founded by auto retail and auto finance disruptors and Car-as-a-Service (CaaS) category pioneers, Scott Painter and Georg Bauer. Together they founded Fair--the first ever used vehicle subscription service. Building upon that experience, NXCR is creating a turn-key vehicle subscription platform for dealerships, OEMs and third-party listing sites that enables vehicle subscriptions to scale profitably and become a mainstream alternative to traditional car buying. NXCR is innovating through technology, finance and insurance in order to power car subscriptions for the used vehicle sector, as well as the emerging green and electric vehicle sector.