Carvana raising $300

What does Carvana do?

Carvana, is the first complete online car retailer. It offers potential car buyers the chance to browse, finance and buy a car totally online. It caters to a wider range of consumers from convenience seekers to car enthusiasts by simplifying the process of car buying with an innovative technology and next day delivery.  It has launched its services in the Atlanta metropolitan area focusing on mid market and luxury vehicles, but it has its physical plant operation in Winder, GA. It can serve cities nationwide. It features advancement in photography, by providing HD 360 degree interior and exterior views, where customers can take it for a virtual spin. Its online platform simplifies the finance process by allowing consumers to manipulate down payment and monthly payment options for instantly forming a payment plan which is unique to the customer.

All the vehicles in its inventory are less than 3 years ols and include an Autocheck report. In addition, many vehicles have their original warranty from the manufactures and have a full disclosure of any cosmetic or functional damage. All their vehicles have a 1 week no questions asked Test Buy return policy.

How much Carvana was funded?

The online auto sales startup, Carvana is in the process of raising a huge round of growth funding of $300 M.

What is next for Carcvana?

It is seeking this huge amount of funding for improving the process and lowering the costs of buying a used car online.

More about Carvana

Carvana was founded by Ryan Keeton and Ernie Garcia. It has its headquarters in Phoenix, Arizona. This is a  online used car buying startup. It has a vertically integrated business model for buying, reconditioning and financing auto sales to the customers. It buys pre-owned care directly from the consumers, fleets, auctions and preps them for sales to customers.