Openlane, Inc. OPLN

What this company does

OPENLANE generates revenue through buy and sell fees charged to vehicle sellers and buyers, and through the sale of ancillary products and services including SaaS-based remarketing and other technology services, transportation logistics, reconditioning, vehicle inspection and certification, titling, administrative and collateral recovery services, and floorplan financing. The company facilitates approximately 1.5 million annual vehicle transactions, representing a gross merchandise value of $28.8 billion in 2025. The company operates as two reportable business segments, Marketplace and Finance, which accounted for 78% and 22% of revenues, respectively, for the year ended December 31, 2025. Floorplan financing for independent used vehicle dealers is provided primarily through the wholly-owned subsidiary AFC, which has approximately 90 branch locations, a hybrid of physical locations and a digital servicing network, throughout North America. At December 31, 2025, the company had approximately 4,800 employees, of which approximately 2,000 were located in the U.S. and approximately 2,800 were located in Canada, Europe, Uruguay and the Philippines. The OPENLANE brand began as a digital alternative to wholesale remarketing through physical auctions and was acquired by the Company, KAR Auction Services, in 2011, which itself was incorporated in 2006 and became public in 2009. After divesting several businesses in the wholesale automotive market, including the spin-off of IAA in 2019 and the sale of ADESA's U.S. physical assets in 2022, KAR rebranded to OPENLANE in 2023.

Written from the business description in OPENLANE, Inc.'s annual report to the U.S. Securities and Exchange Commission, filed 18 February 2026. Every sentence was checked against that document before publication.