Mexico-based online used car marketplace Kavak raised $300M in an equity round led by Andreessen Horowitz, which invested $200M. WCM Investment Management co-led with $100M, alongside Foxhaven Asset Management.
Kavak operates a hybrid model that combines physical showrooms with a digital platform, allowing customers to buy and sell vehicles and access servicing. Kavak also offers financing through its lending arm, Kuna Capital.
The round follows Kavak’s $127M equity raise and $400M debt financing last year. Kavak has reached an annualized run rate of about $600M in loans.
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