Kayishha will integrate the SellAnyCar.com core value proposition and advanced technology engine with an international dealer buying network and auto inspection locations to enable people across the country to sell any make, model or year car in any condition within 30 minutes at fair market value.
The company’s entry into the Saudi market is supported by the recent $35 million investment from Sanabil Investments, a unit of the Saudi Arabia Public Investment Fund, which has recently invested in a number of high-growth technology and e-commerce platforms as part of advancing the national economic diversification strategy.
“We see tremendous opportunity for Kayishha to redefine how used cars are bought and sold in Saudi the same way SellAnyCar.com totally disrupted the UAE used car marketplace,” said Saygin Yalcin, founder and CEO of both SellAnyCar.com and Kayishha. “We’ve taken the pain points out of the process for both the seller and buyer and effectively levelled the playing field so both parties get what they most want and need. Dealers can get a daily list of available cars to keep their lots well stocked. At the same time, the sellers get a simple, stress-free and transparent way to immediately get fair market value for their cars. Everybody wins.”
The SellAnyCar.com auto marketplace was created to address used car seller pain points when selling directly through a classified advertising or to dealers. Through predictive data analytics, the SellAnyCar.com website has a documented ability to assess the fair market value of any car with 92% accuracy.
With Kayishha, the company is investing in both talent and infrastructure to achieve similar growth results in a much larger market opportunity. Kayishha is investing heavily in job creation through an expansion plan that calls for hiring more than 300 people across the country over the next 18-24 months.
At launch, the company will have locations in high-traffic and easy to access shopping malls and retail centres in Riyadh, Jeddah and Dammam with a rapid expansion plan designed to open more than 100 locations within one year. In addition, the company is building its headquarters and customer service centre in Riyadh. While Kayishha will employ both Saudi nationals and expatriates, the company will emphasize the hiring of local citizens, particularly in the customer service centre which will be staffed entirely by Saudi nationals.
“We built a proven model with SellAnyCar.com that we are absolutely confident will bring great value to both used car sellers and buyers across Saudi Arabia. At the same time, with Kayishha we are committed to building a distinctively Saudi company that invests locally, hires locally, respects and embraces Saudi culture, and contributes to the economic and social development pillars of Vision 2030. We even chose the name Kayishha due to its unique meaning and popularity in local slang for paying me cash now,” Saygin Yalcin said.