July 29, 2021 |
Mexican used-car platform Kavak plans to invest $500 million to start operations in Brazil, using money from the $900 million that it raised in its last four fundraising rounds, a spokesperson told LatinFinance on Wednesday.
The company announced on Tuesday that it expects to purchase 100,000 vehicles in Brazil and sell 50,000 cars in the new market by the end of 2022, adding that it will open Latin America's largest vehicle reconditioning center in São Paulo.
"The expansion in Brazil is the sec
Mexican used-car platform is investing $500 mln to start operations in Latin America's largest economy