OLX RECORD INVESTMENT IN CARFIRST WILL BE A MASSIVE GAME CHANGER IN AUTOMOBILE SECTOR OF PAKISTAN
[Lahore, 30 May 2018]: OLX invests in CarFirst to revolutionize the way cars are traded in Pakistan. This OLX investment in CarFirst can be marked as one of the biggest funding rounds in Pakistan’s startup history and will deliver the most comprehensive experience to auto buyers and sellers in the country.
The combination of OLX’s largest online auto inventory and CarFirst’s hassle-free car trading services will provide buyers, sellers, and dealers with industry-leading products and services. Car sellers will be able to sell their cars through either the OLX classifieds platform or at CarFirst’s Purchase Centers. This will bring the world of online car trading together with an on-ground network of value added car services.
OLX is the No.1 App in auto classifieds and one of the largest websites in Pakistan with over 7 million monthly visitors. Every day 5000+ cars are posted on OLX, with a new car posted every 2 seconds, making it the largest online auto marketplace. OLX provides an open marketplace to trade cars, bikes, auto accessories across 115 cities in Pakistan.
CarFirst is a first of its kind used-car online auction and trading platform, with nationwide network purchase centers and warehouses. Car owners can sell their cars in the most secure, convenient, and transparent manner with CarFirst, while also providing its dealer network easy access to nationwide inventory through their online auction platform.
“OLX has created Pakistan’s largest community of buyers, sellers, and businesses in automobile sector with more than 150,000 car listings generated every month. CarFirst is an exciting venture empowering users to cash their car hassle free and we want to fuel their expansion to facilitate OLX user in terms of ease in transaction” said Bilal Bajwa, CEO, OLX Pakistan. “This investment will bring unparalleled level of services for OLX Users & together with CarFirst we will offer the best online auto experience for individuals and Dealers in Pakistan.”
“CarFirst was founded in 2016 and secured one of Pakistan’s largest round of Series ‘A’ investment from FCG”, said Raja Murad Khan, CEO and Co-Founder of CarFirst. “This new investment with OLX comes at the perfect time for us to expand operations. In the coming year, CarFirst and OLX will integrate their services to provide users top of the line experience in selling and buying used cars, including many new products and services that have never been offered before in Pakistan.”
Together, OLX and CarFirst will offer comprehensive solutions for all things related to cars, such as evaluation, certification, financing, insurance, live auctions, and many more. OLX and CarFirst will collaborate to add value across the customer’s journey, improving efficiency and transparency at every milestone of the car trading process.