Business

Mexican unicorn Kavak has a new shareholder: Guillermo "Memo" Ochoa

The football player exchanged the use of his image for some shares of the used car sales platform. He is the second sportsman to be part of Kavak

Guillermo "Memo" Ochoa. The football player exchanged a project for Kavak for shares in the startup. Photo: Reproduction/Kavak/Twitter
  • Last April, this business model has attracted a $485 million round led by D1 Capital Partners, Founders Fund, Ribbit Capital, and Bond Capital;
  • Previously, Softbank, Greenoaks, DST Global, KASZEK, QED investors, and General Atlantic have also backed the startup.

Kavak continues to add Mexican sports figures to its list of shareholders. This week, the country’s first unicorn announced a deal with the football player Guillermo “Memo” Ochoa.

He exchanged a project for Kavak for shares in the startup. The company had already done something similar with the Formula 1 racer, Sérgio Pérez, back in February.

“I have closely followed the development of Kavak and its importance for the growth of the national economy … It was important for me to be part of Kavak, and I am proud to help improve the lives of many people with this association,” Ochoa said in a statement to the press.

READ ALSO: Kavak’s new rival, Creditas announces buying and selling secondhand cars platform

Kavak is a car sales platform that uses algorithms to make predictions regarding prices, the demand for models in the market, and the mechanical performance of vehicles.

READ ALSO: Hernan Kazah: Critical mass of tech-savvy adopters spurs unicorn builder KASZEK’s deals in Latin America

Last April, its business model attracted a $485 million round led by D1 Capital Partners, Founders Fund, Ribbit Capital, and Bond Capital. Previously, Softbank, Greenoaks, DST Global, KASZEK, QED investors, and General Atlantic have also backed the startup.

Kavak’s last move was to announce its expansion into Latin America this year, starting with Argentina and Brazil.

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