Action Openlane (KAR)

OPENLANE, Inc. provides sellers and buyers across the global wholesale used vehicle industry with technology-driven remarketing solutions. The Company offers a digital marketplace for used vehicles, connecting sellers and buyers across North America and Europe. Its end-to-end platform supports the whole car, financing, logistics and other ancillary and related services. Its segments include Marketplace and Finance. Marketplace segment serves its customer base through digital marketplaces in the United States, Canada and Europe and vehicle logistics center locations across Canada. This segment includes private label remarketing solutions, which are offered to automobile manufacturers, captive finance companies and other commercial customers to offer vehicles digitally. Through Automotive Finance Corporation, the Finance segment provides short-term, inventory-secured financing, known as floorplan financing, primarily to independent vehicle dealers throughout the United States and Canada.