Carvana to invest $126m in Root.

Carvana, an e-commerce platform for buying and selling used cars, agreed to invest $126m in Root, a firm that develops and launches a direct-to-consumer personal automobile insurance and mobile technology company. “In Root, we have found a partner that shares our customer focus and technology-driven approach to delivering exceptional customer experiences. We are excited to build on the success of our existing partnership by creating a unique, integrated solution. We look forward to introducing our customers to Root’s seamless insurance process and believe that this integrated offering will deepen and extend our customer relationships between transactions," Ernie Garcia, Carvana CEO.