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Auto Fintech Caribou Raises $115 Million In Series C Funding, Valuing Company At $1.1 Billion

May 20, 2022•about 3 years ago

Amount Raised

$115 Million

Round Type

series c

Description

Caribou, the auto fintech whose mission is to help people take control of their car payments, today announced it has closed $115 million in an oversubscribed Series C funding round, which brings the company’s valuation to $1.1 billion. The round was led by Goldman Sachs Asset Management (Goldman Sachs), with participation from new investors, including Innovius Capital and Harmonic, as well as existing investors, including Accomplice, CMFG Ventures, Curql Fund, Firebolt Ventures, Gaingels, Moderne Ventures, Motley Fool Ventures and others.

Company Information

Company

Caribou

About

The company is expanding its services across the auto financial landscape, recently launching its digital car insurance marketplace. The company has simultaneously scaled its business operations across Washington D.C. and Denver, as well as remotely, building a 500-person workforce, up from roughly 40 employees two years ago. With the cost of car ownership soaring, Caribou is providing consumers with much-needed financial relief, saving its customers on average more than $100 a month on their auto loan through refinancing. Caribou now 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.

Funding Insights

Based on industry data
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