Caribou, formerly known as MotoRefi, is the auto fintech whose mission is to help people take control of their car payments.
Caribou believes taking control of your auto loan and insurance payments should be simple and transparent.
Caribou was founded in 2017 by Kevin Bennett. The company is headquartered in Washington, DC.
Caribou partners with trusted lenders, like credit unions and community banks, to bring customers great rates and lower monthly payments, saving customers an average of over $100 per month on their car payments through refinance.
Caribou also provides a quick and easy way to shop and compare car insurance from trusted national carriers in minutes with its new car insurance marketplace. By combining technology with expert lending and insurance teams, Caribou is prioritizing transparency and trust in the car ownership experience.
Caribou has refinanced more than $1.5 billion in loans, saving its customers over $100 million in total interest over the lifetime of their loans.
Caribou is backed by Goldman Sachs Asset Management, QED Investors, CMFG Ventures, IA Capital, Moderne Ventures, Accomplice, Firebolt Ventures, Gaingels, Innovius Capital, Motley Fool Ventures, Harmonic, and others. The company raised $115M in Series C round on May 20, 2022. This brings Caribou's total funding to $189.1M to date. The latest round mints Caribou a unicorn with a valuation of $1.1B post-money.