Fair acquires Canvas from Ford
Vehicle subscription app Fair announced that it will acquire the assets of Canvas , a vehicle subscription service and wholly owned subsidiary of Ford Motor Credit Company.
Canvas was established in 2017 and has since provided vehicles for about 3,800 subscribers in San Francisco, Los Angeles and Dallas. Customers will have the opportunity to join Fair at the end of their current vehicle subscription.
“Canvas has built innovative subscription products that are relevant to consumers today, and like Fair, has opened up new ways for consumers to gain access to mobility. This acquisition underscores our shared commitment to providing consumers with the car they want on their own terms.” – Georg Bauer, co-founder and chairman of Fair.
“Canvas built an impressive business and we learned a lot about subscription services, fleet management and the technology that underlies both. We are proud of the work that was done in support of Canvas and we wish the entire team the best of luck.” – Sam Smith, executive vice president of Strategy and Future Products at Ford Credit.
“Canvas’ mission is to provide customers with flexible access to the vehicle of their choice for an affordable monthly payment. Our strong synergies with Fair make this a natural fit.” – Ned Ryan, CEO of Canvas.