- 🖊️ Startup Name: Kavak
- 📍 Headquarters: Mexico City, Mexico
- 📅 Year Founded: 2016
Kavak was founded by Carlos García Ottati, Roger Laughlin, and Loreanne García. García Ottati serves as the CEO of Kavak, while Laughlin is the CTO. The team also includes other experienced professionals in finance, technology, and operations.
Buying and selling used cars in Latin America can be a difficult and unreliable process. The regional market is highly fragmented, with no company holding even a 1% share. According to a report by McKinsey & Company, 90% of used car sales in Latin America are informal, which can lead to issues with quality and safety.
Kavak's solution is to provide a digital platform for buying and selling high-quality used cars in Latin America. Their platform allows customers to browse and purchase certified pre-owned cars, with a 7-day money-back guarantee and a 3-month warranty. In addition, Kavak offers financing options and a trade-in program for customers.