April 23, 2024

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Leading Used Car Tech Platform Kavak Announces New General Manager for the GCC

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KAVAK, the emerging market´s leading used car tech platform, has announced the appointment of Nicolas (Nico) Ariza Bagoud as the new General Manager for the Gulf Cooperation Council (GCC) region.

With a remarkable 13-year track record in the e-commerce industry across multiple countries, Nico brings a wealth of knowledge and expertise to lead KAVAK’s expansion in the GCC market. His appointment further solidifies KAVAK’s commitment to delivering a transformative used car experience and setting the standard in the pre-owned car industry.

In 2022, Nico became a founding member of KAVAK’s international team, focused on expanding the company’s presence beyond Latin America. His prior roles in finance and operations made him instrumental in setting up teams, structures, and processes in Turkey, the UAE, and Oman. Nico’s exceptional leadership and contributions have led to his appointment as General Manager for KAVAK’s operations in the UAE and Oman, further solidifying the company’s commitment to growth in the GCC region.

Speaking about his new role, Nico said: “I am thrilled to be leading KAVAK’s expansion into the GCC market. KAVAK’s innovative approach and commitment to revolutionizing the used car industry align perfectly with my passion for customer-centric strategies. I look forward to working closely with the talented team at KAVAK GCC and driving its future success.”

“Nico’s deep understanding of the solution we are creating, combined with his international experience and strategic vision, make him the ideal candidate to drive KAVAK’s success in the GCC market,” said Carlos Garcia Ottati, Founder and CEO at KAVAK. “His thirst for innovation and expertise in implementing omnichannel strategies will undoubtedly contribute to KAVAK’s mission of transforming the used car market.”

Mexico’s first technology unicorn, Kavak was established in 2016 by Carlos Garcia Ottati. It is a popular platform in the used car industries, leveraging technology and data-driven strategies. Kavak has spearheaded the transformation of the pre-owned car market in developing nations. By overseeing every aspect of the process, including thorough inspections, refurbishment, warranties, and post-sales services, Kavak ensures quality and reliability. Its aim is to revolutionise the buying and selling experiences by utilising technology and implementing data and AI-driven financial tools. These tools enable a broader range of users, with varying credit profiles, to access financing options for purchasing a vehicle.

Over the past year, KAVAK has achieved significant milestones in the GCC region, demonstrating its dedication to providing top-notch services and meeting the region’s high quality expectations. Highlights from the past year include the opening of its most premium hub worldwide, designed to cater to the Dubai market, as well as the establishment and complete in-housing of its reconditioning facilities. These initiatives have led to the creation of approximately 100 new jobs in the GCC region.

KAVAK’s Gross Merchandise Value (GMV) in the GCC has also experienced substantial growth, almost tripling over the past twelve months of continuous quarterly growth. With the current infrastructure in place, the GCC is poised for healthy growth, projecting a $150-200 million Annual Recurring Revenue (ARR) excluding any additional investment.

Looking ahead to the next 12-24 months in the GCC, KAVAK has exciting plans to enhance its market presence. By June 2023, its reconditioning facility will be fully operational, with a capacity to produce up to 1,300 cars per month. Its inventory, currently at 500 cars, is projected to triple within the next 12 months and continue growing to make KAVAK the largest car inventory holder in the region within the next 24 months. Moreover, the company will be tripling the number of jobs created in the GCC by the end of 2025, solidifying its commitment to the local economy.

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