Carzami
On a mission to make buying and selling used cars exciting and easy for everyone.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
* | N/A | Seed | |
| Total Funding | 000k | ||
| USD | 2022 | 2023 |
|---|---|---|
| Revenues | 0000 | 0000 |
| % growth | - | 116 % |
| EBITDA | 0000 | 0000 |
| Profit | 0000 | 0000 |
| EV | 0000 | 0000 |
| EV / revenue | 00.0x | 00.0x |
| EV / EBITDA | 00.0x | 00.0x |
| R&D budget | 0000 | 0000 |
Source: Dealroom estimates
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Carzami is an online platform operating in the Egyptian used car market, aiming to streamline the vehicle purchasing and selling process. The company was co-founded in 2022 by brothers Hussein and Adham Hosny. Their entry into this market stems from a family passion for automobiles and prior entrepreneurial experience in the sector. Before Carzami, the founders launched Sa3ar, a data pricing engine for used cars, which addressed significant price inconsistencies in the market. Following the successful sale of Sa3ar to Contactcars.com, they established Carzami with Contact Financial Holding as a strategic partner and investor.
The business model centers on providing a digital, transparent, and convenient transactional experience for both buyers and sellers of pre-owned vehicles. For buyers, Carzami offers a selection of certified and reconditioned cars presented through an online platform that includes 360-degree virtual tours and detailed inspection reports. A key service is the option for customers to have a car delivered to their home for a test drive before purchase. To build consumer trust, the company provides a 7-day "Test to Own" period, allowing customers to return the vehicle within 7 days or 200 kilometers for a full refund or trade-in, and a 30-day protection program. For sellers, Carzami provides at-home vehicle evaluations and instant payment offers. The company generates revenue through the sale of these reconditioned vehicles and by offering integrated financing and insurance options, facilitated by its partnership with Contact Financial Holding, Egypt's largest non-bank financial services provider. The company's target market includes first-time car buyers and busy professionals who value convenience. Upon its pre-seed funding round in 2022, Carzami announced its goal to reach $30 million in revenue by 2024 by expanding its inventory and enhancing its operational technology.
Keywords: used cars, Egypt, online marketplace, vehicle financing, e-commerce, automotive retail, vehicle inspection, car sales, automotive technology, digital dealership