As the Chief Financial Officer at Santa Monica-based vehicle subscription provider Fair, Tyler Painter spends his days blending the old and new—from applying established fiscal management practices within a revolutionary new business model to helping lead institutional capital raises for one of Silicon Beach’s hyper growth companies.
For Painter, it’s the latest chapter in a career spanning more than 25 years across global S&P 500 corporations and early-stage startups—experience that’s paying big dividends for Fair and its customers as the company continues to scale nationally.
Now live in more than 30 markets across the U.S. and with over 3 million downloads, Fair is an app that lets users get a car entirely on their phone with the flexibility to turn it in any time. Offering an alternative to a traditional lease or loan, Fair lets customers shop in-app for cars with monthly payments that fit their budget, sign for the one they want with their finger, pick up the keys and drive it for as long as they want—with no long-term commitment, negotiation or even physical paperwork. Fair has transformed the car-buying and shopping process, into a pay-as-you-go experience that allows a consumer to subscribe to a vehicle the same way they do everything else in life, from their phones, from streaming a song on Spotify to watching Netflix.
Not only has Painter been instrumental in raising more than $500 million in equity and more than $1 billion in debt capital for SoftBank-backed Fair, since its launch three years ago, but he oversees a team that is inventing an entirely new financial model for the way consumers of all economic backgrounds access mobility.
Fair users can subscribe to their cars by making monthly payments for as long as they want, and every monthly payment comes bundled with a limited warranty, routine maintenance, roadside assistance—even optional insurance if they need it.
With an extensive capital structuring background, Painter has raised over $2 billion in equity and debt through private, public and government programs across a number of disruptive technology companies. Prior to Fair, he was the CFO and COO of Terravia, a company focused in sustainable materials, nutrition and renewable energy. At Terravia, he was CFO through the company’s IPO in 2011 and expanded his role to include both the CFO and COO responsibilities through late 2017. Painter previously served as VP of Finance and Corporate Treasurer for Wind River Systems, Inc., a $1 billion public software company enabling connected smart devices. In the technology automotive space, Painter was Director of Finance as part of the early team at CarsDirect, a leading multi-brand online car-buying company. In consumer retail, he held various finance and management roles at Gap, Inc.
Painter has a bachelor’s degree in business/finance from California Polytechnic, San Luis Obispo.