KAVAK is the online platform that offers an exceptional experience of buying and selling used cars in Mexico.
KAVAK allows you to find the ideal car you want to buy, or sell your car, from the comfort of your computer or mobile device, without leaving home.
KAVAK was founded in 2016 by Carlos Julio Garcia and Roger Laughlin. The company is headquartered in Mexico City, Mexico.
Kavak works as a vehicle buying and selling platform that facilitates processes and paperwork, generating a personalized financing and guarantees system for each client. This model was strengthened with the reconditioning of vehicles for sale to the public.
KAVAK also offers you a practical and reliable buying and selling experience in which you get the best offer to buy or sell your vehicle All KAVAK cars go through a 240 point inspection to ensure they are in perfect condition.
Kavak also offers its own financing through its fintech arm, Kavak Capital, which it launched about 18 months ago. The startup currently has 40 logistic and reconditioning hubs in Mexico, Brazil and Argentina.
KAVAK is backed by Softbank, Greenoaks, DST Global, Kaszek Ventures, QED investors, General Catalyst, General Atlantic, Tiger Global, D1 Capital, Founders Fund, and others. The company raised $700M in Series E round on Sep 22, 2021. This brings Kavak's total funding to $1.58B to date. The latest round more than doubled the company's valuation to $8.7B, from the previous $4B gained after a Series D raised in Apr 2021.