Cooley advised Caribou on the deal.
Caribou, an auto fintech with a mission to help people take control of their car payments, announced its oversubscribed $115 million Series C financing round, which brings the company’s valuation to $1.1 billion.
Goldman Sachs Asset Management led the financing round, with participation from new and existing investors. The funding will help Caribou sustain its strong growth trajectory through investments in its platform and innovative new products, and by continuing to expand the team.
Founded in 2016 and formerly known as MotoRefi, Caribou’s philosophy is that taking control of auto loan and insurance payments should be simple and transparent. Through its partnerships with trusted lenders, such as credit unions and community banks, Caribou provides customers with great refinancing rates to save them an average of more than $100 per month on their car payments. In addition to auto loan refinancing, Caribou’s new digital insurance marketplace offers customers even more potential savings.
The Cooley team was led by Derek Colla (Picture) and Lila Inman. Additional assistance was provided by Christian Plaza, Megan Browdie, Stephanie Gentile, Leo Metz, Nicollette Moser and David Dalton.
Involved fees earner: Megan Browdie – Cooley LLP; Derek Colla – Cooley LLP; David Dalton – Cooley LLP; Stephanie Gentile – Cooley LLP; Lila Inman – Cooley LLP; Leo Metz – Cooley LLP; Nicollette Moser – Cooley LLP; Christian Plaza – Cooley LLP;
Law Firms: Cooley LLP;