KAR Auction Services Inc

OPENLANE Inc. together with its subsidiaries operates as a digital marketplace for used vehicles which connects sellers and buyers in North America Europe the Philippines and Uruguay. The company operates through two segments Marketplace and Finance. The Marketplace segment offers digital marketplace services for buying and selling used vehicles. Its digital marketplaces include BacklotCars a live auction format that allows dealers to sell and source inventory in a bidding environment in the United States; TradeRev an online automotive remarketing platform in Canada where dealers can sell and source used vehicle inventory at any time; ADESA U.K. an online wholesale used vehicle remarketing business in the United Kingdom; and ADESA Europe an online wholesale vehicle marketplace in Continental Europe. This segment also provides value-added ancillary services including inbound and outbound transportation logistics reconditioning vehicle inspection and certification titling administrative and collateral recovery services. This segment sells its products and services through vehicle manufacturers fleet companies rental car companies finance companies and others. The Finance segment offers floorplan financing a short-term inventory-secured financing to independent used vehicle dealers. The company serves vehicle manufacturers vehicle rental companies financial institutions commercial fleets and fleet management companies and franchised and independent used vehicle dealers. The company was formerly known as KAR Auction Services Inc. and changed its name to OPENLANE Inc. in May 2023. OPENLANE Inc. was incorporated in 2006 and is headquartered in Carmel Indiana.