MotoRefi is a leading auto refinancing platform that handles the entire loan process for end users. Since they work directly with lending institutions, users can save more money using their app than shopping around themselves.
In a recent lending round, Goldman Sachs endowed the startup with $45 million in funding to scale the company. Considering the auto refinance market is capped at $40 billion in the US alone, there’s plenty of room for growth.
“We candidly weren’t planning on raising yet, but they (Goldman Sachs) were comfortable given the relationship we have built and the track record and success of the business, to preempt the round and move that calendar up,” sais CEO Kevin Bennett in a recent TechCrunch interview.
MotoRefi has totaled $60 million in funding since 2016 thus far.