Dubai-based SellAnyCar.com expanded into Saudi Arabia with the launch of new online platform Kayishha as it looks to tap into a growing market for used cars in the kingdom.
The company's move comes after it raised $35 million (Dh128m) in February this year from a group of investors led by Sanabil Investments, a unit of Saudi Arabia’s Public Investment Fund.
“We see tremendous opportunity for Kayishha to redefine how used cars are bought and sold in Saudi Arabia [in] the same way SellAnyCar.com totally disrupted the UAE used car marketplace,” Saygin Yalcin, founder and chief executive of SellAnyCar.com and Kayishha, said.
“We built a proven model with SellAnyCar.com that we are absolutely confident will bring great value to both used car sellers and buyers across Saudi Arabia,” he added.
The company is planning to hire more than 300 people across the country in the next 18 to 24 months and open more than 100 branches in key locations in Riyadh, Jeddah and Dammam.
"With Kayishha, we are committed to building a distinctively Saudi company that invests locally, hires locally, respects and embraces Saudi culture, and contributes to the economic and social development pillars of Vision 2030.”
Saudi Arabia, the Arab world's largest economy, is stepping up efforts to boost entrepreneurship in the kingdom and create jobs for nationals. Earlier this year, the kingdom said it will grant "instant" work visas to entrepreneurs setting up businesses in the kingdom as part of government efforts to boost non-oil private sector growth.
SellAnyCar.com's expansion is not limited to the kingdom. The start-up plans to expand into other countries in the Gulf, the Levant and North Africa over the next three years, Mr Yalcin told The National in a recent interview. Oman, Bahrain and Kuwait are next on its road map.
"Our business is doing tremendously well," Mr Yalcin said. "We see major structural changes in the automotive industry."
Expansion across the Gulf would also allow the company to benefit from cross-border trading, allowing a customer from one Gulf country could to purchase a used car from another through its platform.
Killing of Qassem Suleimani
Cricket World Cup League Two
Oman, UAE, Namibia
Al Amerat, Muscat
Results
Oman beat UAE by five wickets
UAE beat Namibia by eight runs
Fixtures
Wednesday January 8 –Oman v Namibia
Thursday January 9 – Oman v UAE
Saturday January 11 – UAE v Namibia
Sunday January 12 – Oman v Namibia
if you go
Getting there
Etihad (Etihad.com), Emirates (emirates.com) and Air France (www.airfrance.com) fly to Paris’ Charles de Gaulle Airport, from Abu Dhabi and Dubai respectively. Return flights cost from around Dh3,785. It takes about 40 minutes to get from Paris to Compiègne by train, with return tickets costing €19. The Glade of the Armistice is 6.6km east of the railway station.
Staying there
On a handsome, tree-lined street near the Chateau’s park, La Parenthèse du Rond Royal (laparenthesedurondroyal.com) offers spacious b&b accommodation with thoughtful design touches. Lots of natural woods, old fashioned travelling trunks as decoration and multi-nozzle showers are part of the look, while there are free bikes for those who want to cycle to the glade. Prices start at €120 a night.
More information: musee-armistice-14-18.fr ; compiegne-tourisme.fr; uk.france.fr
UAE currency: the story behind the money in your pockets
Innotech Profile
Date started: 2013
Founder/CEO: Othman Al Mandhari
Based: Muscat, Oman
Sector: Additive manufacturing, 3D printing technologies
Size: 15 full-time employees
Stage: Seed stage and seeking Series A round of financing
Investors: Oman Technology Fund from 2017 to 2019, exited through an agreement with a new investor to secure new funding that it under negotiation right now.
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COMPANY%20PROFILE
%3Cp%3E%3Cstrong%3EName%3A%20%3C%2Fstrong%3ESmartCrowd%0D%3Cbr%3E%3Cstrong%3EStarted%3A%20%3C%2Fstrong%3E2018%0D%3Cbr%3E%3Cstrong%3EFounder%3A%20%3C%2Fstrong%3ESiddiq%20Farid%20and%20Musfique%20Ahmed%0D%3Cbr%3E%3Cstrong%3EBased%3A%20%3C%2Fstrong%3EDubai%0D%3Cbr%3E%3Cstrong%3ESector%3A%20%3C%2Fstrong%3EFinTech%20%2F%20PropTech%0D%3Cbr%3E%3Cstrong%3EInitial%20investment%3A%20%3C%2Fstrong%3E%24650%2C000%0D%3Cbr%3E%3Cstrong%3ECurrent%20number%20of%20staff%3A%3C%2Fstrong%3E%2035%0D%3Cbr%3E%3Cstrong%3EInvestment%20stage%3A%20%3C%2Fstrong%3ESeries%20A%0D%3Cbr%3E%3Cstrong%3EInvestors%3A%20%3C%2Fstrong%3EVarious%20institutional%20investors%20and%20notable%20angel%20investors%20(500%20MENA%2C%20Shurooq%2C%20Mada%2C%20Seedstar%2C%20Tricap)%3C%2Fp%3E%0A
WOMAN AND CHILD
Director: Saeed Roustaee
Starring: Parinaz Izadyar, Payman Maadi
Rating: 4/5
Killing of Qassem Suleimani
Roger Federer's record at Wimbledon
Roger Federer's record at Wimbledon
1999 - 1st round
2000 - 1st round
2001 - Quarter-finalist
2002 - 1st round
2003 - Winner
2004 - Winner
2005 - Winner
2006 - Winner
2007 - Winner
2008 - Finalist
2009 - Winner
2010 - Quarter-finalist
2011 - Quarter-finalist
2012 - Winner
2013 - 2nd round
2014 - Finalist
2015 - Finalist
2016 - Semi-finalist
HAJJAN
%3Cp%3EDirector%3A%20Abu%20Bakr%20Shawky%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cbr%3EStarring%3A%20Omar%20Alatawi%2C%20Tulin%20Essam%2C%20Ibrahim%20Al-Hasawi%C2%A0%3C%2Fp%3E%0A%3Cp%3E%3Cbr%3ERating%3A%204%2F5%3C%2Fp%3E%0A
PFA Premier League team of 2018-19
Allison (Liverpool)
Trent Alexander-Arnold (Liverpool)
Virgil van Dijk (Liverpool)
Aymeric Laporte (Manchester City)
Andrew Robertson (Liverpool)
Paul Pogba (Manchester United)
Fernandinho (Manchester City)
Bernardo Silva (Manchester City)
Raheem Sterling (Manchester City)
Sergio Aguero (Manchester City)
Sadio Mane (Liverpool)
The years Ramadan fell in May
Killing of Qassem Suleimani
Mohammed bin Zayed Majlis
Our Time Has Come
Alyssa Ayres, Oxford University Press
