The Dubai, UAE-based startup that facilitates car buying and selling online today raised $6 million in a Series A funding round led by its strategic partners and VCs, with participation from Crealize (Germany), existing investors Wamda, B&Y (Lebanon) and Phoenician Funds (Lebanon), and a few several angel investors.
The startup through its mobile app offers a smart search engine for car listings and proprietary, AI-powered pricing and negotiation tools. Seez back in 2017 raised $1.8 million in a seed round, and $1 million in 2018.
The three-year-old startup will utilise the fresh funds to improve and create avenues such as cross-border car shopping, a fully-digital car import/export service to allow people in any country to buy a car from the UAE with a few clicks.
Giving a sneak peek of the roadmap of the company, the CEO of Seez Tarek Kabrit said…
“From the very beginning we have been using technology to change how people shop for cars. During the first three years we focused on building our product and growing our user base. Now we are leveraging this platform and using it as a launchpad for all these exciting new services we want to launch,”
Seez claims to have a userbase of 1 million users across five countries, with about 500K cars listed on its platform; that makes it the largest car catalogue in the region.
Seez’s strategic partners include some of the region’s top automotive corporations which deal in a total of 9 top global car brands
Commenting on the current state and growth plans of Seez, Fadi Ghandour, executive chairman of Wamda said…
“Seez is working to support the automotive industry in the UAE by leveraging synergies across various regional countries, in an effort to further cross-border economic integration in Mena.‘’
‘’By targeting an unaddressed market with great potential, Seez is well positioned to become a game changer in streamlining the regional used car market, and we are happy to contribute to that process.‘’