Ultimately, eBay wants to ensure it remains a go-to channel for secure, speed used car sales, at a time when consumers have more options than ever.
Founded out of Los Angeles in 2021, Caramel formally launched last year with some $19 million in funding from backers including FJ Labs, Hearst Ventures, Zeev Ventures, and Primera Capital.
Caramel can be used to complete sales initiated through independent dealerships or marketplaces, including eBay. At the point of checking out, Caramel is provided as an option to verify the individuals’ identities, handle title transfer and registrations, and transfer funds. Buyers are also able to choose financing options, and arrange delivery of the vehicle.