Misplaced Pages

Kavak is a Mexican company that operates an online marketplace for used cars. With a valuation of $8.7 billion, Kavak was the second most valuable unicorn in Latin America as of September 2021. Kavak is based in Mexico City.

History

Kavak was founded in Mexico in 2016. In August 2020, Kavak launched in Argentina. By October 2020, Kavak became the first unicorn in Mexico when its valuation exceeded one billion US dollars. In January 2021, the company raised $485 million in a financing round, increasing its valuation to $4 billion. In May 2021, Kavak launched its financing arm, Kavak Capital. In July 2021, the company announced its expansion into Brazil. US$500 million will be invested for this purpose. This will be the second foreign market the company enters. In September 2021, the company raised $700 million in another financing round, doubling its valuation to more than $8 billion. Investors included Sea, SoftBank, Peter Thiel's Founders Fund, Tiger Global and others.

References

1. ^ "Mexico's Kavak drives away with $700M in new funding, doubling its valuation to $8.7B". TechCrunch. Retrieved 2022-02-04.
2. ^ "Used Car Startup Kavak Valued at $8.7 Billion in Funding Round". Bloomberg. 22 September 2021. Retrieved 2022-02-04.
3. ^ "SoftBank-backed used-car startup Kavak becomes first Mexican unicorn". Reuters. 2020-10-01. Retrieved 2022-02-04.
4. ^ "Mexican used-car startup Kavak hits $4 billion valuation". Reuters. 2021-04-07. Retrieved 2022-02-04.
5. "Kavak Boosts its Global Expansion by Investing US$500 Million in Brazil". www.businesswire.com. 2021-07-27. Retrieved 2022-02-04.
6. "Sea, SoftBank join round valuing Mexico's Kavak at $8.7b". www.techinasia.com. Retrieved 2022-02-04.

This article about a Mexico corporation or company is a stub. You can help Misplaced Pages by expanding it.

• v
• t
• e

• Mexican companies established in 2013
• Companies based in Mexico City
• Used car market
• Online marketplaces of Mexico
• Mexican company stubs