Dubai-based c-to-b-to-c used-car marketplace CarSwitch has announced its official launch in Saudi Arabia, as part of the company’s wider expansion strategy. CarSwitch’s primary competitor in the market will be Syarah, a used-car auto vertical that also has a digital car retailing operation, selling refurbished and fully inspected vehicles online.
CarSwitch said it had already been operating in the country for several months after “a successful soft launch” in the kingdom early this year.
CarSwitch has been targeting the Saudi automotive market since it secured an additional $7 million U.S. in Series A funding early last year, but the move was delayed by the coronavirus pandemic.
The site handles inspections, warranties, photography, advertising, collecting calls, filtering prospective buyers, attending test drives and paperwork for its sellers in exchange for a fee usually at 2.5% of the value of each car it sells.
The company was founded in 2016 by Imad Hammad and Ali Malik, both former consultants at McKinsey and Company. Saudi Arabia becomes its second operational market in the region after the UAE.