Caribou in Business Insider

By Tom Dotan

November 18, 2021

Uber is working with a Goldman-backed startup to make car loans for gig economy drivers cheaper

Uber partners with fintech startup Caribou to help top drivers refinance their car loans.
Goldman Sachs led Caribou’s $50 million funding round in January.
Caribou executives say their offering saves Uber drivers an average of $100 a month.

For many Uber drivers during the pandemic, the decision to keep working comes down to a simple calculus of whether their earnings outweigh the costs. Beyond health risks, things like car loan payments, gas and maintenance take big chunks out of income, and are a major source of driver turnover.

Uber is addressing at least one of these challenges through a new partnership with fintech firm Caribou. The startup is integrating its service into Uber’s driver app, to help top drivers in California refinance their car loans. …

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