
Total amount raised
$2.4 Billions
Latest funding date

Location
Kavak has successfully raised significant funding over multiple rounds, achieving a valuation of $4 billion. The platform specializes in the buying and selling of used cars, leveraging data, technology, and innovation to disrupt the pre-owned car market.
Keep reading to explore the intricacies of Kavak's fundraising journey and the investors backing this transformative platform.
What Is Kavak?
Kavak, founded in 2016 in Mexico City, is an online platform revolutionizing the pre-owned car market. The company offers a wide selection of certified vehicles, thorough inspections, and various financing plans.
Founded by Carlos Julio Garcia, Loreanne Garcia, and Roger Laughlin, Kavak leverages data, technology, and innovation to formalize the used car industry. The platform also provides a 7-day return policy, warranty services, and a mobile app for managing car services.
With a workforce of 5001-10000 employees, Kavak continues to expand its global presence, aiming to empower people by helping them manage one of their most important assets: their car.
How Much Funding Has Kavak Raised?
- Seed Round
- Amount Raised: $3.3M
- Date: August 2016
- Lead Investors: Nazca Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial technology and operations.
- Series A
- Amount Raised: $10M
- Date: July 2018
- Lead Investors: Kaszek
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand market reach and enhance platform capabilities.
- Series B
- Amount Raised: Not publicly disclosed
- Date: September 2019
- Lead Investors: General Atlantic, Greenoaks
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enter new markets.
- Series C
- Amount Raised: $385M
- Date: September 2020
- Lead Investors: DST Global, Greenoaks, SOFTBANK Latin America Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand market presence and improve technology infrastructure.
- Series D
- Amount Raised: $485M
- Date: April 2021
- Lead Investors: Bond, D1 Capital Partners, Founders Fund, Ribbit Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance customer experience and expand service offerings.
- Series E
- Amount Raised: $700M
- Date: September 2021
- Lead Investors: General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To solidify market leadership and innovate new services.
- Debt Financing
- Amount Raised: $810M
- Date: September 2022
- Lead Investors: HSBC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To improve customer experience and develop new mobility solutions.
Total Amount Raised: $2.393B. Current Valuation: $8.7B.
Key Investors
- HSBC
- Details: HSBC is one of the largest banking and financial services organizations in the world, serving more than 40 million customers through its global businesses. It operates in 64 countries and territories across Europe, Asia, the Middle East, Africa, North America, and Latin America.
- Investment Focus Areas: Banking, Financial Services, Wealth Management
- Notable Investments: Ping An Insurance, HSBC Holdings, Hang Seng Bank
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in powerful, positive change that endures. They support founders with a long-term view who are building companies that will transform industries.
- Investment Focus Areas: Technology, Healthcare, Consumer
- Notable Investments: Stripe, Airbnb, Snap
- Bond
- Details: Bond is a global technology investment firm that partners with visionary founders and companies. They focus on investing in companies that are transforming industries and creating new markets.
- Investment Focus Areas: Technology, Consumer, Enterprise
- Notable Investments: DoorDash, Canva, Revolut
- D1 Capital Partners
- Details: D1 Capital Partners is a global investment firm that deploys capital in both public and private markets. They focus on identifying and investing in high-quality businesses with significant growth potential.
- Investment Focus Areas: Technology, Healthcare, Financial Services
- Notable Investments: Robinhood, Instacart, Stripe
- Founders Fund
- Details: Founders Fund is a San Francisco-based venture capital firm that invests across all stages and sectors. They are known for their contrarian approach and have backed companies like SpaceX, Palantir, and Airbnb.
- Investment Focus Areas: Technology, Aerospace, Consumer
- Notable Investments: SpaceX, Palantir, Airbnb
What's Next for Kavak?
As Kavak continues to expand, the opportunities are vast. The company aims to enhance customer experience, develop new mobility solutions, and expand its loan portfolio in Mexico. With $810 million in recent funding and the potential to raise up to $1.2 billion, Kavak is well-positioned to capitalize on these opportunities.
Future fundraising efforts are likely, given the strong investor confidence from major financial institutions like HSBC, Goldman Sachs, and Santander. However, challenges such as managing fraud risks, navigating regulatory environments, and ensuring consistent quality across a diverse inventory remain. Successfully addressing these challenges will be crucial for Kavak's continued growth and market leadership.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like Kavak and gather other critical business insights.
Sign up for free on Clay and start making data-driven decisions today.