{ "title": "Kavak celebrates its 10th anniversary: from Mexico\u2019s first unicorn to a comprehensive platform for the automotive sector", "modified_at": "2026-10-09 01:09:22", "published_at": "2026-10-07 15:00:00", "url": "https://news-room.kavak.com/kavak-celebrates-its-10th-anniversary-from-mexicos-first-unicorn-to-a-comprehensive-platform-for-the-automotive-sector", "short_url": "http://prez.ly/Itie", "culture": "en", "language": "EN", "slug": "kavak-celebrates-its-10th-anniversary-from-mexicos-first-unicorn-to-a-comprehensive-platform-for-the-automotive-sector", "body": "\n \n
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Mexico City, 7 October 2026 – Kavak is celebrating its tenth anniversary with a business model that has evolved alongside consumers’ needs. The company was founded in Mexico with the vision of transforming the experience of buying and selling used cars and, over the course of a decade, has incorporated financing, logistics and technology solutions to facilitate access to a car and support its customers at every stage of the transaction.

From buying and selling to a comprehensive platform

In October 2016, Kavak was launched to provide certainty for buyers and sellers in a historically informal industry. This work laid the foundations for tackling a second barrier: the lack of credit options for purchasing a used vehicle.

These needs led the business to grow and diversify. Kavak developed its own financing models and technological tools to coordinate thousands of transactions. It also integrated Draiver, its vehicle logistics platform, to manage the movement and operation of cars throughout their lifecycle. In 2025, it carried out around 120,000 transactions. Today, the solutions built for its own operations serve more than 5,000 industry partners across the Americas, Europe, and the Middle East.

“We started by buying and selling used cars, but we realized that, to achieve the impact we were seeking, we needed to build much more: provide financing, sort out the logistics and incorporate artificial intelligence into our processes to build a comprehensive platform. Now, through our marketplace, we are making these capabilities available to a growing number of companies within the automotive sector,” said Carlos García Ottati, founder and CEO of Kavak.

This integration enables the company to address the challenges that often arise during a single purchase. Before putting a car up for sale, Kavak checks its condition and documentation, and resolves any outstanding paperwork or outstanding debts.

This increased reliability of the vehicle also makes it possible to offer financing solutions to more buyers. Over the years, Kavak has provided over US$1,000 million in financing. Currently, between 60 per cent and 65 per cent of the vehicles Kavak sells each month are financed. The report also cites a study by The Competitive Intelligence Unit according to which 28.6 per cent of its buyers state that they would not have been able to purchase a car through any other means. For Kavak, expanding access requires a combination of credit, trust and a range of vehicles suited to different needs and budgets.

Artificial intelligence at every stage of the operation

Artificial intelligence is the driver behind the solutions developed by Kavak over the past ten years. Market and vehicle-specific data help define purchase and sale prices and support mechanical diagnostics, while alternative risk models are used to assess financing applications, looking beyond traditional credit history. The technology is also used to identify potential document irregularities before a transaction is completed.

Each transaction adds more data towards the continuous improvement of these tools: understanding what cars customers are looking for, where there are gaps in the market, and how to offer financing options tailored to different profiles. For Kavak, the next step is to apply these capabilities to an increasing number of operational decisions and make them available to other market participants via its marketplace business line.

Continuing to expand access over the next decade

“We continue to work with a day-one mindset, building what this market still needs. Companies that endure create most of their value after their first 15 years, so I’m convinced that the most important chapter for Kavak is yet to come,” García Ottati added.

In the coming years, Kavak will seek to expand its presence, offer more financing options and bring its technological solutions to more companies in the automotive sector. The company's vision is to make buying, selling or moving vehicles increasingly straightforward while enabling more people to access a car through a secure and transparent transaction.

About Kavak

Kavak is a digital platform that is transforming the way people buy, sell, finance and service their cars. By integrating technology, data, inspection and reconditioning, logistics, finance and customer support, Kavak aims to make car ownership more accessible, transparent and reliable in Latin America and selected international markets.

 

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