MotoRefi, an Arlington, VA.-based auto fintech startup, raised $45m in Series B funding.
The round was led by Goldman Sachs Asset Management’s Growth Equity team (Goldman Sachs) joined by new investor IA Capital and return investors Moderne Ventures, Accomplice, Link Ventures, Motley Fool Ventures, and CMFG Ventures. In conjunction with the funding, Jade Mandel, Vice President on the growth equity team within Goldman Sachs Asset Management, will join MotoRefi’s Board.
The company, has now raised more than $60m since its inception in 2016, intends to use the funds to invest in its platform and continue to expand the team.
Led by Kevin Bennett, CEO, MotoRefi leverages partnerships with lenders, like credit unions and community banks to refinance auto loans bringing customers improved rate lower monthly payments.