OPENLANE, Inc. is a leading provider of digital marketplace solutions for the wholesale used vehicle industry. Originally known as KAR Auction Services, the company rebranded to OPENLANE in 2023 to reflect its transition to a fully digital business model following the sale of its physical U.S. auction sites. The company operates through two primary business segments: Marketplace and Finance. The Marketplace segment (accounting for approximately 78% of total revenue in 2025) facilitates the buying and selling of used vehicles between commercial sellers—such as automotive manufacturers, rental car companies, and fleet operators—and franchise or independent dealers. Operating across the United States, Canada, and Europe, the platform generates revenue primarily through auction fees charged to both buyers and sellers, as well as through ancillary services like transportation logistics, vehicle inspection, and reconditioning. The Finance segment (approximately 22% of revenue) operates through the Automotive Finance Corporation (AFC) subsidiary, providing short-term, inventory-secured floorplan financing to independent used vehicle dealers in North America. By not taking title to the vast majority of vehicles sold on its platform, OPENLANE operates a highly scalable, asset-light marketplace model that competes with other digital and physical auto auction providers.
