OPENLANE, Inc.

OPENLANE is a digital marketplace specializing in wholesale used vehicles across the United States, Canada, and Europe. The company's technology and personnel link major automotive manufacturers, dealers, rental companies, fleet operators, captive finance, and lending institutions as both buyers and sellers. In 2025, OPENLANE facilitated approximately 1.5 million annual vehicle transactions, with a gross merchandise value (GMV) of $28.8 billion. GMV represents the total dollar value of vehicles sold through its marketplaces. OPENLANE offers an integrated suite of technology, data analytics, financing, logistics, and other remarketing solutions, complemented by vehicle logistics centers in Canada. Vehicles on the marketplaces are typically sold by franchise and independent car dealerships (dealer customers) and by commercial sellers, including vehicle manufacturers and their captive finance companies, financial institutions, commercial fleet operators, and rental car companies (commercial customers). Revenue is generated through buy and sell fees charged to both sellers and buyers. Additionally, the company sells value-added ancillary products and services, such as SaaS-based remarketing and other supporting technology services, transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative and collateral recovery services, and floorplan financing. For most transactions, OPENLANE facilitates direct ownership transfer from seller to buyer without taking title to the vehicles. However, in some instances, the company sells vehicles it has purchased, taking title and recording the gross selling price as revenue. For commercial sellers, OPENLANE's proprietary SaaS-based platform supports over 40 private label digital remarketing applications, serving the majority of North American manufacturers and captive finance companies.