Online Auto Sales Startup Carvana Is Raising $300 Million To Expand Nationwide


Used car sales are heating up online, with huge amounts of cash pouring into an industry that has yet to be disrupted by technology. A company called Carvana is in the process of raising a huge round of growth funding as it seeks to improve the process and reduce the price of buying a used car online.

More and more consumers are getting used to making purchases of big-ticket items online, which is creating a big opportunity for businesses that cut out the middleman and offer products direct-to-users. Carvana is one example of this, by offering a website where customers can quickly browse, search and buy used automobiles online.

Unlike some other used car platforms, Carvana has a vertically integrated business model for buying, reconditioning, and financing auto sales to its customers. Instead of just creating a pure marketplace of buyers and sellers, Carvana purchases pre-owned automobiles direct from consumers…

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