The UAE-based SellAnyCar.com have brought their total funding up to approximately $50 million after securing the latest funding of $35 million. This round was led by Saudi Arabia’s Sanabil Investments, Gulf Investment Corporation (GIC), and Olayan Financing Company, who are joining existing investors iMENA Group, a venture capital investment company.
SellAnyCar.com has reached a new milestone in 2019, having surpassed AED1 billion in total gross merchandising value, which amounts to roughly $272.2 million.
SellAnyCar.com intends on using the funding to increase their growth and presence in the GCC. The company is currently expanding into Saudi Arabia, and planning on opening 100 branches throughout the Kingdom as well as employing over 300 Saudi Arabian nationals. Saygin Yalcin, CEO of SellAnyCar.com, is hopeful about the possibilities of the company, stating: “We are focusing on Saudi Arabia in 2020 and will look to build upon the success we have achieved in the UAE”. Yalcin also acknowledged this as an example of a regional investment supporting local entrepreneurs.
“We are focusing on Saudi Arabia in 2020 and will look to build upon the success we have achieved in the UAE”Saygin Yalcin, SellAnyCar.com CEO
The car selling company was launched in the UAE in 2013 and offers online car valuation, free car inspection, as well as the guarantee of selling a user’s car within 30 minutes with immediate payment to the seller and full paperwork management. Individuals selling their car have access to over 10,000 dealers, who bid on the car until a fair price is settled.
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