Caranty is a secure online marketplace that facilitates the buying and selling of used cars between individuals, utilizing a transparent pricing model and a verification process for vehicle legality and condition. The platform eliminates risks of fraud by holding payments until the transaction is completed and allowing buyers to inspect vehicles at designated showrooms.
Funding
$1.5M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Buying and selling used cars between individuals often involves risks such as fraud, lack of transparency regarding vehicle condition, and complicated transactions. Traditional methods lack secure payment systems and reliable verification processes, leading to potential financial losses and legal issues for both buyers and sellers.
Solution
Caranty provides a secure online marketplace that facilitates used car transactions directly between individuals, ensuring transparency and minimizing risks. The platform offers vehicle verification for legality and condition, secure payment processing, and designated showrooms for inspections. By acting as an impartial third party, Caranty enables users to agree on prices and conditions, exchanging vehicles and funds safely. The company's approach includes virtual inspections using AI, legal evaluations of documentation, and transparent communication of a vehicle's condition.
Target Audience
Caranty primarily targets individuals looking to buy or sell used cars without the risks associated with private transactions, as well as those seeking a transparent and secure platform for negotiating prices and finalizing sales.
Features
- AI-driven virtual car review and legal documentation assessment
- Secure payment system that holds funds until the transaction is complete
- Physical inspection of vehicles at Caranty showrooms
- Negotiation platform for buyers and sellers to agree on prices anonymously
- Vehicle legal status validation and mechanical condition reports
- Option for automotive credit through Banco Santander
- Commission-based revenue model, charging 4% of the sale price
- Showrooms available for secure vehicle viewing and delivery