Jordan's CarSeer secures six-figure Seed investment
CarSeer, a Jordanian vehicle history reporting platform has secured a six-figure Seed investment from Arzan Venture Capital.
Founded by Hashim Hasan and Amjad Al-Zabin in 2015, CarSeer provides assistance in the assessment of used cars with the aim of protecting the public, insurance firms and financial institutions from misleading information. CarSeer reports are the first ever vehicle history reports issued in Arabic language (the reports are bilingual).
The startup has built a comprehensive vehicle history database consisting of millions of records from trusted sources such as automotive agencies, government departments and insurance firms. The data comes from USA, Europe, Japan, South Korea and local sources. Each CarSeer report is certified by Jordan Customs and Emirates Authority For Standardization & Metrology, both of which accept CarSeer reports as a basis for assessing the suitability of vehicles for road use in each country.
Amjad Al-Zabin, Co-Founder of CarSeer mentioned: “This investment marks the launch of CarSeer’s vehicle history reporting beyond the borders of Jordan. We are looking forward to grasping this opportunity and achieving our vision of becoming the focal source of information on used cars in the region.”
Laith Zraikat, Partner at Arzan Venture Capital, commented “ ‘Am I getting my money’s worth?’ This is the big question on the mind of every used car buyer. CarSeer fills the huge information gap and helps answer this question by building the region's largest and most comprehensive cross-border vehicle history report database. COVID has affected the used cars market negatively in terms of overall transactions, but, at the same time, it created an opportunity for CarSeer to digitize one of the crucial parts of the transaction while reducing unnecessary physical interaction and saving time.”
CarSeer intends to use the new funds to facilitate its expansion efforts in the Gulf region.
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