Caramel Launches Checkout Platform for Private Party Car Sales and Independent Dealers

Company raises $12 million seed funding, led by Zeev Ventures, Primera Capital, and Hearst Ventures, to take the pain out of car buying and selling

LOS ANGELES, CALIFORNIA, USA, March 22, 2023 /EINPresswire.com/ — Caramel, a company that is transforming private party and independent dealer car sales, today announces the launch of the Caramel checkout platform. The company also announces that it has raised $12 million in seed funding, led by Zeev Ventures, Primera Capital, and Hearst Ventures.

“As a lifelong auto enthusiast, I know first hand how complicated and stressful a car sale can be,” said Ed Brojerdi, Co-Founder & Co-CEO of Caramel. “Transacting on a car with no help is like buying a house without a realtor. With Caramel, we’ve simplified the entire process, making it easy and secure for both buyers and sellers.”

A growing number of used car marketplaces and auctions help car buyers and sellers connect, with well over 20M cars sold through private parties and independent dealers in the US in 2022. Caramel exists in complement to them, offering a tool to handle the missing pieces of the transaction itself, like authenticating buyer and seller, making the payment, transferring ownership and serving up a finance & insurance suite.

Caramel offers a simple, digital checkout tool to customers and handles the complexities of the sale for them. With Caramel, buyers and sellers can easily and safely transact on any car using any device. Caramel is available in the App Store, Google Play Store, and at drivecaramel.com.

Using Caramel, either party can begin the transaction. Caramel helps customers agree on a price and then authenticates the car and verifies the buyer and seller with a photo ID and selfie. The buyer is offered financing and insurance from top national lenders and carriers, as well as transportation. Caramel securely transfers funds, automates digital paperwork, and handles DMV work for both customers behind the scenes.

In addition to private parties, dozens of independent dealers currently use the Caramel platform as their digital retail solution. “Independent dealers often don’t have access to the best retail tools or partners,” said Craig Nehamen, Co-Founder and Co-CEO, Caramel. “With Caramel, these dealers now offer their customers a best-in-class digital retail experience and the industry’s best partners. And Caramel becomes their own DMV service and title clerk.”

Caramel was founded by experienced auto industry entrepreneurs, Craig Nehamen and Ed Brojerdi. Craig brings deep finance, insurance, and operations expertise from his experience as co-founder and CSO at Fair and VP, Strategy & Corporate Development at Westlake Financial. Ed brings a wealth of marketing and product experience from his time running global brands for the world’s best finance and car companies as CEO of advertising agency Kirshenbaum Bond Senecal + Partners.

Lisa Langsdorf
GoodEye PR
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