Caramel Launches Car Sales Platform With $12M
Summary
For people looking to secure a new ride from private sellers and independent dealers, LA-based Caramel wants to help them check all the boxes involved in the transaction, from authenticating both parties to putting together an insurance suite.Caramel launched its digital checkout platform on Wednesday with the goal of transforming private party and independent dealer car sales. Once a sale is in motion, Caramel offers the buyer financing and insurance plans from third-party lenders and carriers, as well as transportation of their new vehicle. The platform processes fund transfers, automates digital paperwork and manages DMV tasks for both customers, according to the company. The tool is available on the App Store, Google Play Store and Caramels website.Were focused on making it the norm in private party and independent dealer car sales to have a simple, secure modern sale, Ed Brojerdi, Caramel co-founder and co-CEO, told Built In via email. Within the month, the company also plans to release embedded online notarization services in locations where DMVs require a notary for title and registration signing, Nehamen said.