“Kavak has experienced unprecedented growth, which has implied making changes in the structure of our business, affecting the processes to adapt them to the service demand requested by users,” said Carlos García Ottati, CEO of Kavak. “We have integrated measures that will radically restructure the customer experience, but, unfortunately, these measures take time to produce the desired effects, “he said.

Kavak’s business model has made it possible to formalize the used car market in Latin America, guaranteeing secure transactions that have managed to eradicate the risks of mechanical fraud and various crimes.

In addition, the company has incorporated access to massive automotive financing tools through its own financial institution, enabled through data technology and artificial intelligence, becoming one of the leading financial institutions in the region.

The company plans to take its value proposition to different emerging markets globally in the next 12 months.