Home / Uncategorized / OLX announces $89m investment in parent company of car selling platform, CarFirst

OLX announces $89m investment in parent company of car selling platform, CarFirst

OLX Group introduced $89 million international funding within the collection C funding spherical of on-line automobile market, Frontier Automotive Group, the dad or mum firm of CarFirst. Headquartered in Berlin, the startup is at present working in six international locations.

A joint press convention passed off yesterday the place OLX introduced this funding within the dad or mum firm of Pakistan’s first on-line used automobile promoting platform — CarFirst. This report funding goals to ship essentially the most complete expertise to auto patrons and sellers within the nation.

The collaboration of OLX’s largest on-line auto stock and CarFirst’s hassle-free automobile buying and selling providers will present patrons, sellers, and sellers with industry-leading services and products. Automotive sellers will be capable of promote their automobiles via both the OLX classifieds platform or at CarFirst’s Buy Facilities. This can carry the world of on-line automobile buying and selling along with an on-ground community of value-added automobile providers.

Bilal Bajwa, CEO, OLX Pakistan said;

“OLX has created Pakistan’s largest group of patrons, sellers, and companies in car sector with greater than 150,000 automobile listings generated each month. CarFirst is an thrilling enterprise empowering customers to money their automobile trouble free and we wish to gas their enlargement to facilitate OLX person when it comes to ease within the transaction. This funding will carry an unparalleled degree of providers for OLX Customers & along with CarFirst we’ll supply one of the best on-line auto expertise for people and Sellers in Pakistan.”

CarFirst was based in 2016 and secured one in every of Pakistan’s largest spherical of Collection ‘A’ funding from FCG”, stated Raja Murad Khan, CEO, and Co-Founding father of CarFirst. “This new funding with OLX comes on the excellent time for us to broaden operations. Within the coming 12 months, CarFirst and OLX will combine their providers to offer customers prime of the road expertise in promoting and shopping for used automobiles, together with many new services and products which have by no means been supplied earlier than in Pakistan.”

Collectively, OLX and CarFirst will supply complete options for all issues associated to automobiles, akin to analysis, certification, financing, insurance coverage, reside auctions, and lots of extra. OLX and CarFirst will collaborate so as to add worth throughout the client’s journey, bettering effectivity and transparency at each milestone of the automobile buying and selling course of.

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