MotoRefi is an online platform for refinancing auto loans.
It offers a guided system that helps users through the refinancing process (comparing interest rates, paying off the original loan, etc.)
The startup raised a $45M Series B in May led by Goldman Sachs, bringing its total funding to $69.1M.
MotorRefi is part of the “accessible credit” meta trend.
A growing number of services have emerged to help people find and apply for loans, restructure debt and build credit.
Credit builder cards offered by companies like Chime, Amazon and Self allow people with low or no credit history to start building one up.
Buy Now, Pay Later services let Ecommerce shoppers do exactly that. Examples include Laybuy, Afterpay, Sezzle, Quadpay, Klarna and Affirm.
And Credible is a marketplace for personal loans — especially student loans.