US fintech Caribou lands $115m Series C at $1.1bn valuation

US-based Caribou, an auto fintech that helps people take control of their car payments, has closed a $115 million Series C funding round led by Goldman Sachs Asset Management.

Caribou is now valued at $1.1bn

The round also saw 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.

Caribou says it will use the new funding to invest in its platform, expand its team and develop new products.

Founded in 2016, Caribou offers auto refinancing by connecting car owners with lenders from credit unions, community banks and other financial institutions, along with a new car insurance marketplace.

The company claims to have refinanced more than $1.5 billion in loans, saving its customers over $100 million in total interest over the lifetime of their loans.

The newly minted unicorn, now valued at $1.1 billion, last raised $50 million in a Series B round in May 2021, also led by Goldman Sachs.

The latest Series C funding brings the company’s total capital raised to date to more than $190 million.