KAVAK is the Entrepreneur of the Year 2018
The problem of selling a used car was what triggered the idea of the startup. Kavak is the marketplace of purchase and sale of used cars in Mexico that was crowned in the magazine “Expansión” as entrepreneur of the year.
The two brothers Carlos and Loreanne García Ottati, as well as Roger Laughlin Carvallo, developed a platform that gives certainty to the process of buying and selling cars. Before concluding the first year of operation, they received an investment of three million dollars which was used for their first batch of cars that consisted of three: a Mini Cooper, a Ford Van and a Jetta.
The Mountain Nazca investment fund was the first to provide funds to Kavak. In this regards, Héctor Sepúlveda, co-founder and managing partner of the fund, detailed that in addition to Kavak’s profit on every transaction, scalability seemed to be guaranteed. “A business with these particularities has all the necessary elements to become a very healthy company on the Stock Exchange in the long term”, Sepulveda emphasized.
You can find the complete article in Spanish at this address.