FinTech start-up Caribou partners with Uber to offer drivers and couriers instant refinancing of car loans

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Caribou

Saving money on car payments is a huge win for our employees.

Caribou, the automotive fintech startup with a mission to help consumers save money on their auto finances, today announced its official partnership with Uber. This new technology allows Uber to offer fast and easy Caribou automatic refinancing to drivers and couriers, potentially saving them hundreds of dollars on their car loans.

For many car owners, refinancing a car loan has a significant impact on their financial life. Through the partnership, Uber will provide drivers of its UberPro app with direct access to Caribou’s streamlined refinance process, which can help borrowers find a better rate on their auto loans in minutes. Caribou saves borrowers over $ 100 per month on average, and often thousands of dollars in interest over the life of their loans.

“Like Uber, our goal is to provide flexibility for people and remove barriers for people. That’s why we’ve created a simple auto refinance platform to help consumers save on their auto loans,” he said. said Kevin Bennett, CEO of Caribou. “Together, Caribou and Uber are proud to help reduce expenses and expand opportunities to maximize their income. We are proud to partner with Uber to provide drivers with this opportunity.”

“For many employees, a car loan is one of the most important expenses for running a car and making money through Uber,” said Alix Anfang, spokesperson for Uber. “We’re always looking for ways to increase accessibility and flexibility and partnering with Caribou to provide an easy way to save money on their car payments is a huge win for our employees. ”

The offering will first launch in California, with subsequent expansion to subsequent states.

This partnership with Uber comes after Caribou launched an ecosystem API in April, partnering with student loan refinancing platform SoFi, among others. He also announced that he had raised $ 50 million in Series B financing led by Growth Equity of Goldman Sachs Asset Management.

About the caribou

Caribou believes that refinancing your car loan should be a straightforward and transparent process. Through our partnerships with trusted lenders, such as credit unions and community banks, we offer customers great rates and lower monthly payments, saving customers on average over $ 100 per month on their car payments. Caribou, incubated by QED Investors, is supported by Goldman Sachs, Modern Ventures, Complice, Link Ventures, Motley Fool Ventures, CMFG Ventures, FireBolt Ventures, Gaingels and others.

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