Seez will use this investment to access the $10 billion industry that second-hand automotive e-commerce is.
Emirati startup Seez just raised $6 million in its Series A funding round led by Wamda and joined by German VC Crealize, B&Y Venture Partners, Phoenician Funds and several angel investors.
“From the very beginning, we have been using technology to change how people shop for cars,” says CEO Tarek Kabrit. “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.”
In 2019, approximately 275,000 used cars were sold in the UAE, of which almost half were for export. Seez will use this round of investment to grow and access the $10 billion industry that second-hand automotive e-commerce is in the UAE, as well as other markets in the Middle East and North Africa.
Founded by Tarek Kabrit and Andrew Kabrit in 2016, Seez offers a smart search engine for car listings. With its pricing and negotiating tools powered by AI, Seez app has grown to more than a million users with almost 500,000 cars listed on its platform available across UAE, Kuwait, KSA, and Lebanon. This investment round marks the startup’s second, totaling up to $9.2 million to date.
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