Toyota Financial Services (TFS) announces global partnership with Plug and Play to promote FinTech Open Innovation

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Jun 27, 2018, 11:00 ET

PLANO, Texas, June 27, 2018 /PRNewswire/ -- Toyota Financial Services (TFS) today announced a global partnership with Silicon Valley innovator Plug and Play. Together, the companies intend to promote corporate innovation with startup companies offering financial services solutions.

TFS will promote the FinTech Open Innovation Program with Plug and Play in several markets around the world, starting with the United States. The purpose of the program is to streamline startup engagement to accelerate TFS corporate innovation.

"As the largest auto lender in the United States, Toyota Financial Services is uniquely positioned to promote technology innovations that will transform mobility financial services," said Mike Groff, President and CEO of Toyota Financial Services USA. "We look forward to promoting the FinTech Open Innovation Program, drawing upon the expertise provided by our new partners at Plug and Play."

"It is our pleasure to welcome Toyota Financial Services as a new partner in our innovation platform. Their long-standing history and their understanding of financial services will bring valuable insight to our growing startup ecosystem," said Saeed Amidi, Founder and CEO of Plug and Play. "Our goal with this partnership is to help them find the best startups so they can run successful pilots to grow with their business units."

Any interested FinTech startup companies that would like to collaborate with Toyota Financial Services should contact Matt Helmers from Plug and Play by the end of July 2018.

About Toyota Financial Services
Toyota Financial Services (TFS) is the finance and insurance brand for Toyota in the United States, offering retail auto financing and leasing through Toyota Motor Credit Corporation (TMCC) and Toyota Lease Trust. TFS also offers extended service contracts through Toyota Motor Insurance Services (TMIS). The company services Lexus dealers and customers using the Lexus Financial Services brand. TFS currently employs approximately 3,300 team members nationwide, and has assets totaling over $120 billion. It is part of a worldwide network of comprehensive financial services offered by Toyota Financial Services Corporation, a wholly-owned subsidiary of Toyota Motor Corporation. We announce material financial information using the investor relations section of our website (www.toyotafinancial.com) and SEC filings. We use these channels, press releases, and social media to communicate about our company, our services and other issues. While not all information we post on social media is of a material nature, some information could be material. Therefore, we encourage those interested in our company to review our posts on Twitter at www.twitter.com/toyotafinancial.

Points of Light has named TFS one of its Civic 50, which recognizes the most community-minded companies in the nation. For more information about the company's support of financial literacy, youth development programs, and other community initiatives, please visit www.tfsinthecommunity.com.

About Plug and Play
Plug and Play is a global innovation platform. Headquartered in Silicon Valley, we have built accelerator programs, corporate innovation services, and an in-house VC to make technological advancement progress faster than ever before. Since inception in 2006, our programs have expanded worldwide to include a presence in over 20 locations globally giving startups the necessary resources to succeed in Silicon Valley and beyond. With over 6,000 startups and 220 official corporate partners, we have created the ultimate startup ecosystem in many industries. We provide active investments with 200 leading Silicon Valley VCs, and host more than 700 networking events per year. Companies in our community have raised over $7 billion in funding, with successful portfolio exits including Danger, Dropbox, Lending Club, PayPal, SoundHound, and Zoosk. For more information, visit www.pnptc.com.

SOURCE Toyota Financial Services