Dubai’s SellAnyCar raises $35m to finance expansion and increase product offering – The National

Dubai’s SellAnyCar raises $35m to finance expansion and increase product offering – The National

Sanabil Investments is leading the funding round in SellAnyCar.com to fuel its expansion plans. Dubai-based online used car trader SellAnyCar.com raised $35 million (Dh128m) in its latest funding round as the company seeks to expand across the Gulf and roll out more products.. It predicts the venture capital scene could see $1 billion worth of investments in 2020 as more start-ups look for capital and government investments in venture funds kick into action.. SellAnyCar.com, an online marketplace for used cars, plans to expand into other countries in the Gulf, the Levant and North Africa over the next three years, Mr Yalcin said.. The online car seller has seen business pick up, as sales of used cars begin to outpace new car sales, Mr Yalcin said.. The start-up is profitable, he added, declining to provide details.. The company plans to employ more than 300 nationals in Saudi Arabia and open 100 branches throughout the kingdom.. The new funding will also be used to roll out more products to the market, such as the buyanycar.com platform, through which customers can purchase cars, Mr Yalcin said.. The start-up's record growth rates are driven by a rise in online businesses and ecommerce, the increase