CarFirst, a Pakistani startup which sells used cars, has just raised an investment from the international investor Frontier Car Group. CarFirst is hailing this investment initiated in late 2016 as one of the leading series “A” funds for a startup in Pakistan.
With a number of inspection outlets in Karachi, Lahore and Islamabad this digital platform is providing car sellers a hassle free process to get their vehicles renovated to be sold at a reasonable price to CarFirst. It is entirely different from typical buying and selling vehicles platforms in Pakistan as its process includes buying the cars and then selling to a wing of strategic partners instead of general public.
CarFirst has made large strides in the way the used car sales sector works within one year since its launch. Recently the company is putting effort to focus on eradicating the hassle out of having cars inspected and payments processed. CarFirst aims to trim down the procedure of inspecting and getting payments within an hour which would be the fastest lead time to execute.
To get the results, the company will heavily rely on market intelligence, an internally developed algorithm and a team of workers possessing specialized skills.
On the company’s online platform, a seller can provide details of their vehicle so that it can be examined free of charge. But, if a buyer requires a physical inspection of their car, they can also reserve an order at CarFirst inspection center. The CarFirst experts are also available to advise the buyer and seller about the market value of the car.
According to Raja Murad Khan the CEO and Co-Founder of CarFirst, the company has a vision of reinventing how the second-hand car market operates in Pakistan by means of technology and establishment of infrastructure.
“The startup is making it easier to sell a car by employing the international best practices in Pakistan.”
The series ‘A’ funds were raised by Frontier Car Group. They are in the business of constructing and running marketplaces targeting on rising markets in the automobile sector. According to the company officials, the funds will be utilized to improve the CarFirst online platform. Frontier Car Group is supported by various companies including Balderton Capital, EchoVC, New Enterprise Associates, Inc (NEA), and TPG Growth.