Image Credit: MAGNiTTAuthor: MAGNiTT Staff
Seez, a Lebanese automotive market place has completed a new seed extension funding round of $1m lead by B&Y Venture Partners and Phoenician Funds.
The recent capital raise from B&Y Venture Partners will allow Seez to expand geographically and launch additional product lines to further optimize the car search and buying process.
Founded in 2015 by Andrew and Tarek Kabrit, the automotive mobile app is available on IOS and Android and currently serves the UAE and Kuwait. That app fully automates car searching using AI chatbot and Cesar to scan all sites, identify relevant car sellers and negotiate prices.
Seez aims to make the journey of finding a car more comfortable to its users by allowing them to check the fair market value and depreciation of cars.
Last year, Seez received $1.8 million in seed funding from Wamda Capital, B&Y and Phoenician Funds, secured over 300,000 users and ranked third on the apps store. After the most recent funding, Seez has a total funding of $2.8m
Seez’s main competitors include largest car dealership, AAA Auto, online vehicle marketplace, mobile.de and European automotive marketplace AutoScout24.
Although Seez currently operates in the UAE and Kuwait, it aims to disrupt the mobility industry around the world.