Sa3ar Technology Solutions, a platform that delivers car assessment technology and a dealer-specific auction platform, has been acquired by Contactcars.com a subsidiary of Contact Financial Holding, Egypt’s top automotive marketplace.
“With online usage growing tremendously among both consumers and business, and with the increasing shift to digital by car market players, this acquisition allows us to bolster contactcars.com’s market-leading position as well as lay the foundation for additional services going forward. This is just the first step in a series of investments which will be announced in due course,” Said Zater, CEO of Contact Financial Holding, said.
Here Is What You Need To Know
- With this acquisition, Contactcars.com hopes to improve the user experience by acquiring Sa3ar, Technology, developed by Adham and Hussein Hosny, and delivering a single holistic pricing solution that will cater to both end-users and dealers, allowing the market to enjoy consistent vehicle pricing.
- Though new to the Egyptian market, digital auction technology will be integrated, resulting in a single dealer-specific app for dealers and vehicle traders wishing to digitize the purchase and selling of used cars.
- Contactcars.com, a subsidiary of Contact Financial Holding, continues to grow and explore for new ways to bring unique value-added services to the automotive ecosystem.
- The Sa3ar founders and team will continue to collaborate with Contact to develop new and creative services to bring to market, in addition to owning the Sa3ar platform and technology.
“Our loyal user base has come to expect continuous innovation from us; the areas of market pricing and car valuation are no different and we expect to be the key source of car pricing for the automotive market. Furthermore, we are introducing a strong layer of automotive dealer services and the digital auction system will be a vital part of this new portfolio of dealer services,” Osman Abdelmoneim, Managing Director of contactcars.com, added.
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- Contactcars.com will continue to introduce innovative services for both consumers and dealers with the goal of bringing the entire automotive ecosystem closer together and simplifying the process of purchasing, selling, and owning a new or used car through a faster, better experience.
- Sa3ar was co-founded in 2019 by Hussein Hosny and Adham Hosny
Sa3ar acquired
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer