OPENLANE, Inc.

OPENLANE Inc. operates digital marketplaces that connect sellers and buyers of used vehicles across North America and Europe, facilitating wholesale transactions. The company's end-to-end platform enables the sale of approximately 1.3 million used vehicles annually through multiple formats, serving commercial sellers including vehicle manufacturers, financial institutions, fleet operators, and rental companies, as well as franchised and independent used vehicle dealers. OPENLANE generates revenue through auction fees charged to both sellers and buyers, supplemented by ancillary services including transportation logistics, vehicle inspection, reconditioning, title processing, and administrative support. The company also operates AFC, a finance subsidiary that provides floorplan financing—short-term loans secured by vehicle inventory—primarily to independent dealers. OPENLANE's technology platform supports over 40 private-label digital remarketing sites and maintains vehicle logistics centers in Canada where physical vehicles can be inspected while being sold through digital channels using simulcast technology. Operating as an asset-light business model, OPENLANE facilitates direct transfers between buyers and sellers without taking ownership of vehicles, enabling efficient operations across geographic boundaries. Founded in 2006 and headquartered in Carmel, Indiana, the company competes in the wholesale used vehicle marketplace and floorplan financing segment.