The second-hand vehicle marketplace achieved the valuation in a round co-led by SoftBank that pushed its overall funding to $400m.
Telecommunications and internet group SoftBank agreed last month to invest an undisclosed amount at in Mexico-based automotive e-commerce platform Kavak at a $1.15bn valuation, Reuters has reported.
Carlos Garcia, CEO of Kavak, told Reuters the Mexico City-based company had raised more than $400m in funding since its founding four years ago, adding that SoftBank, DST Global and Greenoaks Capital co-led the latest round.
Kavak runs an online marketplace where users can buy or sell second-hand cars in Mexico and Argentina,…
