Mexico-based auto marketplace Kavak has begun operating in the city of Rio de Janeiro in Brazil, following its expansion outside Mexico, which includes operations in Sao Paulo, Argentina, and more recently, Turkey.
Rio is the second city to which Kavak has expanded in Brazil, and is a major consumer area for autos in Latin America’s biggest economy.
“The expansion was already expected, but it was quicker than we thought,” Roger Laughlin, Brazil GM at Kavak, wrote in a LinkedIn post.
Kavak currently has 6,737 listings in Brazil. It buys and sells inspected cars online, with various guarantees. It also offers loans.
Last June, Kavak quietly acquired a Turkish company, as anticipated by the AIM Group. It declined to comment at the time of the acquisition, but it now lists Turkey as one of the countries where it operates.