OPENLANE

OPENLANE, Inc. is a prominent operator of digital marketplaces for wholesale used vehicles, connecting sellers and buyers across North America and Europe. The company, headquartered in Carmel, Indiana, has established a global presence with over 90 operating locations in the United States, Canada, Europe, the Philippines, and Uruguay, serving customers in more than 40 countries. Formerly known as KAR Auction Services, Inc., the company rebranded to OPENLANE in May 2023 to better reflect its commitment to digital innovation and its primary marketplace platform. OPENLANE's mission is to make the wholesale automotive industry easier and more successful for its customers by providing advanced and uncomplicated digital solutions. The company's platforms and services are designed to streamline transactions, reduce risk, and improve transparency for a diverse client base that includes original equipment manufacturers (OEMs), dealers, fleet operators, rental companies, and financial institutions.

As a technology-driven enterprise, OPENLANE leverages data and innovation to enhance the vehicle remarketing process. The company's digital marketplaces facilitate the buying and selling of a vast inventory of used vehicles through various sale formats, including 24/7 bid-ask marketplaces, 'Buy It Now' listings, and timed auctions. Beyond its core marketplace functions, OPENLANE offers a comprehensive suite of ancillary services. These include vehicle inspections, financing through its Automotive Finance Corporation (AFC) brand, transportation and logistics, and data-driven insights to help clients make informed decisions. The company is dedicated to continuous improvement and innovation, accelerating the future of wholesale remarketing through a culture of curiosity, collaboration, and an entrepreneurial spirit. With a significant volume of vehicles sold annually and a substantial gross merchandise value, OPENLANE stands as a key player in the global automotive industry, committed to delivering value and efficiency to its partners and customers.