Caribou no longer offers insurance
Fintech startup Caribou appears to be out of the insurance space.
The startup, which helps consumers refinance their existing car loans, is no longer featuring insurance on its site. Below are past and present images from Caribou’s site.
Caribou also removed the contact details for the insurance department, as well as the note regarding its relationship with Bindable.
Finally, users trying to navigate to Caribou’s auto insurance page are presented with the following image:
Caribou’s insurance efforts were led by ex-Policygenius employee Jason Fromm, who left the struggling fintech startup in July 2023.
Based on information we obtained, Caribou’s leadership had high hopes for the insurance business but it never presented meaningful revenue.
The startup, which raised $189 million in funding, went through multiple rounds of layoffs. Last week, co-founder and CEO Kevin Bennett announced that he is stepping down from his position.