A month before the COVID-19 pandemic had spread to North America, auto fintech startup MotoRefi — newly armed with nearly $9 million in venture capital — was preparing to bring its refinancing platform to the masses.

CEO Kevin Bennett, and the investors behind the company, saw the opportunity to service Americans who collectively hold $1.2 trillion in auto loans.

MotoRefi said Friday it has raised $10 million in a round led by Moderne Ventures.

MotoRefi said it refinanced more than $250 million of auto loans in 2020.