Carvana is the re-seller of used automobiles. The company provides purchase and re-sale of used automobiles in Phoenix, Arizona through an online platform. It also provides financing, servicing, delivery, pick-up and warranty cover for purchase on used cars.
Carvana offers consumers an online car buying and financing platform.
Carvana was founded in 2013 by Ernest Garcia III, Ryan Keeton and Ben Huston. The company is based in Tempe, Arizona.
Carvana operates as an online-only used car dealer that allows customers to shop, finance, and sell or trade-in cars through their website. The company gives customers the option of having their purchased vehicles delivered to them or they can choose to pick them up at one of the company's 24 car vending machines.
Carvana enables consumers to shop more than 25,000 vehicles, finance, trade-in or sell their current vehicle to Carvana, sign contracts, and schedule as-soon-as-next-day delivery or pickup at one of the company’s patented, automated car vending machines.
Carvana is backed by Ally Financial, DriveTime Automotive Group, Georgiana Ventures and others. The company raised $600M in a latest round on April 02, 2020. This brings Carvana's total funding to $1.6B to date. Carvana went public on Apr 28, 2017, the company raised $225M at a $2B IPO valuation.