UAE's SellAnyCar.com set to launch in Saudi Arabia after $35m backing
UAE-based online auto marketplace for used car sales unveils Kayishha, supported by recent $35m investment
SellAnyCar.com, the UAE-based online auto marketplace for used car sales, has announced that it is expanding into Saudi Arabia with the launch of Kayishha.
Kayishha will integrate the SellAnyCar.com core value proposition and advanced technology engine with an international dealer buying network and auto inspection locations to enable people across the country to sell any make, model or year car in any condition within 30 minutes at fair market value.
The company said its entry into the Saudi market is supported by the recent $35 million investment from Sanabil Investments, a unit of the Saudi Arabia Public Investment Fund, which has recently invested in a number of high-growth technology and e-commerce platforms.
“We see tremendous opportunity for Kayishha to redefine how used cars are bought and sold in Saudi the same way SellAnyCar.com totally disrupted the UAE used car marketplace,” said Saygin Yalcin, founder and CEO of both SellAnyCar.com and Kayishha.
“We’ve taken the pain points out of the process for both the seller and buyer and effectively leveled the playing field so both parties get what they most want and need. Dealers can get a daily list of available cars to keep their lots well stocked. At the same time, the sellers get a simple, stress-free and transparent way to immediately get fair market value for their cars. Everybody wins.”
He said that through predictive data analytics, the SellAnyCar.com website has a documented ability to assess the fair market value of any car with 92 percent accuracy.
He added that Kayishha is investing heavily in job creation through an expansion plan that calls for hiring more than 300 people across the country over the next 18-24 months.
At launch, the company will have locations in high-traffic and easy to access shopping malls and retail centres in Riyadh, Jeddah and Dammam with a rapid expansion plan designed to open more than 100 locations within one year.
The company is also building its headquarters and customer service centre in Riyadh.
Kayishha will integrate the SellAnyCar.com core value proposition and advanced technology engine with an international dealer buying network and auto inspection locations to enable people across the country to sell any make, model or year car in any condition within 30 minutes at fair market value.
The company said its entry into the Saudi market is supported by the recent $35 million investment from Sanabil Investments, a unit of the Saudi Arabia Public Investment Fund, which has recently invested in a number of high-growth technology and e-commerce platforms.
“We see tremendous opportunity for Kayishha to redefine how used cars are bought and sold in Saudi the same way SellAnyCar.com totally disrupted the UAE used car marketplace,” said Saygin Yalcin, founder and CEO of both SellAnyCar.com and Kayishha.
“We’ve taken the pain points out of the process for both the seller and buyer and effectively leveled the playing field so both parties get what they most want and need. Dealers can get a daily list of available cars to keep their lots well stocked. At the same time, the sellers get a simple, stress-free and transparent way to immediately get fair market value for their cars. Everybody wins.”
He said that through predictive data analytics, the SellAnyCar.com website has a documented ability to assess the fair market value of any car with 92 percent accuracy.
He added that Kayishha is investing heavily in job creation through an expansion plan that calls for hiring more than 300 people across the country over the next 18-24 months.
At launch, the company will have locations in high-traffic and easy to access shopping malls and retail centres in Riyadh, Jeddah and Dammam with a rapid expansion plan designed to open more than 100 locations within one year.
The company is also building its headquarters and customer service centre in Riyadh.