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Corporation
INTERNET | eCommerce / Marketplace
kavak.com

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Founded Year

2016

Stage

Series E | Alive

Total Raised

$1.188B

Valuation

$0000 

Last Raised

$700M | 3 days ago

About Kavak

Kavak is an online used car marketplace that facilitates processes and paperwork, generates a personalized financing and guarantees system for each client.

Kavak Headquarter Location

No. 1 Col. El Panteon

Lerma de Villada, 52005,

Mexico

Latest Kavak News

Mexico’s Kavak says new funds make it second-most valuable LatAm startup

Sep 22, 2021

Author of the article: Article content MEXICO CITY — Mexican used-car platform Kavak said it has more than doubled its valuation to $8.7 billion based on its latest funding round, making it the second-most valuable startup in Latin America as it eyes further expansion beyond its home market. Kavak’s chief executive, Carlos Garcia, told Reuters the Mexico City-based firm netted $700 million in its Series E round, making the platform second only to Brazilian fintech Nubank among the highest-valued startups in the region. https://www.reuters.com/business/finance/buffett-backed-nubank-seek-ipo-valuation-over-554-bln-sources-2021-08-25 We apologize, but this video has failed to load. Try refreshing your browser, or Advertisement Article content The injection of capital has delivered a boost to Kavak’s plans to expand outside the region as a one-stop shop for browsing, purchasing and financing pre-owned cars via an app. Kavak said funding was led by U.S. venture capital firm General Catalyst, while SoftBank Group Corp, billionaire Peter Thiel’s Founders Fund, Singapore-based gaming and e-commerce company Sea Ltd, Tiger Global, Spruce House, hedge fund D1 and Ribbit Capital also participated. The new funding round is the latest sign of an aggressive push into Latin America’s startup scene by Japan’s SoftBank, which last week launched https://www.reuters.com/business/softbank-renews-bet-latin-america-with-3-bln-fund-2021-09-14 a $3 billion fund to invest in the region’s technology companies. Advertisement Article content Founded nearly five years ago in Mexico, Kavak expanded to Argentina in 2020, before landing in Brazil this year, which it described as its largest market. The company will most likely focus next on expanding to emerging markets beyond Latin America, CEO Garcia told Reuters, noting that announcements could come within six months. “We’re looking outside the region for our next step,” he said in an interview. “We want to go into the biggest, most broken market where we can really make a dent, where we can really make users’ lives better, so we’re not agnostic to Latin America.” Kavak previously said it had doubled its valuation to $4 billion https://www.reuters.com/business/finance/mexican-used-car-startup-kavak-hits-4-billion-valuation-2021-04-07 just months ago after an earlier investment round. Advertisement Article content Since then, Garcia said, the company has grown rapidly as more consumers became eager for an alternative to peer-to-peer car buying which can be unreliable or financially risky. Demand only increased during the coronavirus pandemic as public transportation shuttered and more people turned to pre-owned cars. Kavak says it now has 5,000 employees across Latin America. Just over a year ago, the firm had only 300. A severe semiconductor shortage that slammed the brakes on the global auto industry, first felt in the United States, was also starting to creep in to Mexico’s car market, Garcia said. “In the U.S., you’re seeing a shortage of products in the new and used car industry. We’re starting to see this early trend in Latin America, we think it’s going to be a huge driver for Kavak in the next few months,” Garcia said. Kavak has drawn inspiration from Chinese companies like ride-hailing group Didi Global Inc as it looks to expand what Garcia called the “super app experience,” offering multiple services through a single app. Chinese consumer habits closely resemble those in Latin America, Garcia said. “The composition of the people there, how they live, it’s more similar to Latam than the composition of how people live in the U.S.,” Garcia said. “It’s easier for us to think about logistics, how to get to users.” (Reporting by Cassandra Garrison in Mexico City Editing by Matthew Lewis) Share this article in your social network Share this Story: Mexico's Kavak says new funds make it second-most valuable LatAm startup

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Research containing Kavak

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CB Insights Intelligence Analysts have mentioned Kavak in 1 CB Insights research brief, most recently on Mar 3, 2021.

Expert Collections containing Kavak

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Kavak is included in 5 Expert Collections, including Auto Commerce.

A

Auto Commerce

529 items

Companies involved in the rental, selling, trading, or purchasing of cars, RVs, trucks, and fleets, including auto financing companies, vehicle auction services, online classified advertising companies with a focus on auto, and dealership software platforms.

E

E-Commerce

8,471 items

S

SoftBank Investments 2017-2019

146 items

U

Unicorns- Billion Dollar Startups

832 items

D

Digital Lending

1,123 items

This collection contains companies that provide alternative means for obtaining a loan for personal or business use and companies that provide software to lenders for the application, underwriting, funding or loan collection process.

Kavak Web Traffic

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Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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