MotoRefi extends Series B with extra $5m capital raise

Auto refinancing company MotoRefi has raised an additional $5m in its extended Series B funding round.

The new investment was made by Curql Fund, an investment that will enable MotoRefi to become a Credit Union Service Organisation.

This additional funding follows the MotoRefi’s earlier $45m Series B raise from June this year, bringing the total amount for the Series B to $50m.

Virginia-based MotoRefi enables users to refinance their auto loans. Its technology is able to integrate with credit unions, community banks and other lending institutions to improve efficiency for both consumers and lenders.

Currently, MotoRefi has backing from Goldman Sachs Asset Management Growth Equity, Motley Fool, Link Ventures, FireBolt Ventures, Moderne Ventures, IA Capital, CMFG Ventures, Gaingels and Accomplice among others.

Earlier this year, MotoRefi closed its Series A-1 funding round on $10m, a round led by Moderne Ventures.

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