SellAnyCar.com, the UAE online auto marketplace for selling used cars announced this week that it is expanding into the Saudi Arabian used car buying market with the launch of an offshoot called Kayishha.
Kayishha will serve as SellAnyCar.com’s subsidiary in Saudi Arabia, sharing the UAE brand’s technology, international dealer buying network, and other needed resources to enable people across the country to sell any make, model or year car in any condition within 30 minutes.
The company’s 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 as part of advancing the national economic diversification strategy.
“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.”
The SellAnyCar.com auto marketplace was created to address used car seller pain points when selling directly through classified advertising or to dealers. Through predictive data analytics, the SellAnyCar.com website has a documented ability to assess the fair market value of any car with 92% accuracy, it said.
Kayishha is expecting to hire 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 centers in Riyadh, Jeddah and Dammam with a rapid expansion plan designed to open more than 100 locations within one year. In addition, the company is building its headquarters and customer service center in Riyadh. While Kayishha will employ both Saudi nationals and expatriates, the company will emphasize the hiring of local citizens, particularly in the customer service center which will be staffed entirely by Saudi nationals.
Startups revolving around mobility and the automotive sector continue to find more success
Originally founded by Saygin Yalcin in 2013 in the UAE, SellAnyCar.com, and its complimentary brand BuyAnyCar.com through which the former sells its customers’ cars, are among many startups founded in the region with a focus on the automotive sector. The 2010s as a whole have seen an unprecedented boom in new tech startups: from e-tailer Noon.com to unicorn Careem and many others, the region’s market has been well-receiving of these new companies.
Tech startups revolving around mobility, however, remain a major highlight.
Careem, the poster boy of tech startups in the region, was so popular that US competitor Uber decided to up and purchase the company altogether for $3.1 billion, opting to keep the company operating under its own brand.
Smaller success stories besides Careem and SellAnyCar.com include ServiceMyCar (unrelated to the former), which its founder Ozair Puda described as the Careem of car servicing in an interview with AMEinfo. His company provides 24/7 on-demand car servicing through a dedicated app.
Another car care app is CAFU, the region’s first fuel on-demand app based in the UAE. Customers can use the app around the clock to order fuel to any location in Dubai, Sharjah, Ajman and Umm Al Quwain, fueling cars, motorcycles and boats. It currently has plans to expand to Egypt and Oman.
wecashanycar is another tech startup operating in the car sale and rental sector in the UAE. It follows a similar model to SellAnyCar/BuyAnyCar, and is owned by multi-million dollar classifieds company dubizzle, which itself is owned by OLX. According to its 2019 findings, the company estimates that the UAE used car market is worth over 12 billion dirhams ($3.3 billion), with over 80% of owners selling and buying vehicles online.