Carzami Vehicle Finance Market Secures Undisclosed Pre-Seed Funding

A pre-boot ride was secured by the used car market Carzami, which is based in Egypt. The amount raised has not been made public.

To transform the Egyptian used car market and achieve its goal of $30 million in sales by 2024, Carzami, an online retailer of high-quality used cars and vehicle finance, recently announced the closing a pre-seed round led by Contact Financial Holding and creating a scalable inventory finance facility.

Carzami is an online marketplace for buying and selling used vehicles that offers its customers 360 degree virtual tours and inspection reports. It was created in 2022 by Hussein Hosny and Adham Hosny.

With this significant investment from Contact, Egypt’s largest non-banking financial services provider, Carzami will be able to deliver its cutting-edge approach to a digital car dealership and offer essential alternatives for car insurance and financing.

Through an online marketplace that offers licensed and refurbished used cars with 360-degree virtual tours and inspection reports, Carzami seeks to stabilize the used car industry in Egypt.

Customers can request delivery of any car they want to test drive, then order with financing and insurance choices.

Carzami is aware that the fragmentation and mistrust that define the used car market are not conducive to the company’s expansion.

Carzami hopes to continue expanding his inventory with the money he has received. Additionally, Carzami wants to increase the number of delivery trucks in its fleet, improve operational technology, develop a productive workforce, and build a state-of-the-art refurbishment facility.

Significantly, Carzami will use the money to improve organizational efficiency and expand current services such as auto loans.

Carzami aims to outperform its rivals by providing exceptional services and building its existing base of customer trust.

The 30-day Carzami protection program and a 7-day “Test to Own” service, which allows potential customers to test drive a car for 7 days/200 kilometers before making a decision, will be introduced to achieve this.

Finally, customers can exchange it for another or receive a full refund. Carzami wants to make sure customers get what they pay for in this situation.

By providing top-notch services to its customers, Carzami hopes to dominate the used car market.

Hussein Hosny and Adham Hosny, two seasoned car entrepreneurs, co-founded the company in 2022. To solve the problems of buying and selling used cars, they started this company.

They identify themselves as an internet business that guides customers through the painstaking buying and selling of used cars.

Both Hussein and Adham have extensive expertise in the automotive industry. Together with Synapse Analytics, which is currently also a Carzami partner, the duo co-founded Sa3ar, Egypt’s first data pricing engine for used automobiles.

Carzami is gearing up to be an industry leader for automotive demands and needs in the region with the help of additional team experience from BMW, Mercedes and Porsche.

Techbuild’s review

It’s harder than ever to find people who buy or sell used cars. Besides the local newspaper or word of mouth, there are various options today.

Due to the development of internet and technology, customers are now obsessed with the chances of completing tasks in the easiest and fastest way possible.

Moreover, these platforms provide ease of testing and reconditioning, in addition to helping you sell your old car. Buyers can be confident that the used cars they have purchased are insured, just like when buying a new car.

Hussein Hosny and Adham Hosny, the founders of Carzami, said their company aims to revolutionize the way people buy and sell used automobiles by providing a convenient one-stop platform with shopping alternatives, high-quality online sales and financing.

The company’s approach emphasizes trust and openness, which helps customers avoid the hassle associated with conventional dealerships.

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