In today’s latest news about digital-first banking, Motorefi acquired $45 million in a Series B funding round.
Motorefi, a fintech vehicle firm, landed a massive $45 million in a Goldman Sachs Asset Management-led Series B funding round. This funding will accelerate the growth through developing the team and will lead to more significant investments in the platform.
The digital firm, Motorefi, has enabled its platform to allow people to save money in their car payments. Moreover, it has been a go-to platform for auto refinance in 2020.
That is a firm that is quite necessary within the world today because of the different shortages, demand for vehicles, and other elements. The current CEO of this startup is Kevin Bennett, an individual who has been able to continue his startup career in several ways.
Bennett Came Up With MotoRefi Because He Noticed The Need
One would wonder how Bennett came up with the idea for MotoRefi. One of the main reasons is because he has been able to use his startup experience from the past. This past experience helps him to draw on his intuition to assess needs in the market and provide solutions that make sense. He has shown that having several ideas, the ability to execute and add value to each startup has enabled him to propel himself in this journey.
Bennetts’ Main Point On MotoRefi
People appreciate MotoRefi because it helps individuals to refinance their car loans to a better rate. That is essential in a world where individuals are purchasing goods like cars with loans as opposed to using cash. The startup becomes extremely valuable at a time when individuals must ensure to keep their costs low to fend off inflation fears or other concerns that may rise up over the years.
He has been able to grow the firm because of his focus on creating a mission driven company instead of one that is solely focused on profit. He ensures to find ways to make sure that the business is honest, transparent, and helpful its growing base of consumers.
As he is able to do that with his team, he can grow the firm, institute more value, and provide more returns to investors. It is certainly tense times at the present moment in the startup world, general markets, and economy, but people are able to navigate by keeping it simple like Bennett.