KAR Auction Services Inc

OPENLANE, Inc. operates a digital marketplace for used vehicles, connecting sellers and buyers in the United States, Canada, Continental Europe, and the United Kingdom. It operates through two segments: Marketplace and Finance. The Marketplace segment provides digital marketplace services for buying and selling used vehicles, along with value-added ancillary services such as transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative, and collateral recovery services. Its digital marketplaces include the OPENLANE platform, a mobile app-enabled solution that allows dealers to sell and source inventory. This segment serves commercial fleet operators, financial institutions, rental car companies, new and used vehicle dealers, and vehicle manufacturers. The Finance segment offers floorplan financing, a short-term inventory-secured financing to independent vehicle dealers, serving commercial customers and franchise and independent dealer customers. 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.