MotoRefi, a Washington, DC-based auto fintech startup, raised additional $5m in funding.
Curql Fund made the investment, which enables MotoRefi to become a Credit Union Service Organization (CUSO).
For credit union partners, like GreenState Credit Union, MotoRefi provides access to more borrowers, adding to their membership base and enabling them to serve their communities at scale.
Led by CEO Kevin Bennett, MotoRefi provides a platform for users to refinance auto loans through partnerships with trusted lenders, like credit unions and community banks. The company, incubated by QED Investors, is backed by Goldman Sachs Asset Management Growth Equity, IA Capital, Moderne Ventures, Accomplice, Link Ventures, Motley Fool, CMFG Ventures (part of CUNA Mutual Group), Gaingels, FireBolt Ventures, and others. This additional funding comes after MotoRefi announced it had raised $45m in Series B funding in May, bringing the round total to $50m.