- Motery raises USD 8M to expand its online car buying and financing platform in Kuwait.
- The funding supports technological upgrades and positions Motery as a leader in the region’s automotive market.
- Motery’s success is absorbing regional innovative trends sweeping across the MENA region.
Motery’s USD 8M Seed Funding Victory
Kuwaiti fintech startup Motery has successfully raised USD 8 million in seed funding, positioning itself as a leader in the region’s burgeoning automotive market. Motery’s innovative platform streamlines car buying and financing, offering users an end-to-end solution to purchase vehicles entirely online.
Co-founded by Abdullah Emad AlAteeqi and Mohammed Al-Abdulsalam, the platform simplifies the traditionally complex car-buying process. The application allows customers to browse, compare, and finance cars from the comfort of their homes.
“We are thrilled to have secured this funding at a strong valuation. Our mission is to simplify and elevate the car buying experience for consumers in Kuwait.”
Abdullah Emad AlAteeqi, Motery CEO
This funding round will allow Motery to enhance its services and capture a larger share of Kuwait’s digital car-buying market, estimated to grow significantly in the coming years. Motery aims to outpace competitors like Motorgy and Q8Car by providing a seamless user experience combined with flexible, tailored financing options.
Disrupting Kuwait’s Car-Buying Market
Motery’s success marks a significant step in transforming Kuwait’s automotive market, which has long relied on traditional methods. By leveraging fintech innovation, Motery empowers customers with faster transactions and transparent financing, aligning with global trends in digital transformation.
According to industry estimates, Kuwait’s automotive sector is experiencing rapid growth, driven by a young, tech-savvy population. Platforms like Motery are capitalizing on this shift, making car ownership more accessible and affordable.
Steering Kuwait’s Digital Transformation
The USD 8 million funding round propels Motery toward its goal of becoming Kuwait’s go-to platform for online car buying and financing. By continuously improving its technology, the company aims to attract more users, enhance operational efficiency, and redefine customer expectations.
“We are excited to enhance our platform further, ensuring that our customers enjoy a seamless and efficient car buying process. Together, we are committed to driving the future of automotive financing in Kuwait.”
Mohammed Al-Abdulsalam, Motery Co-Founder and CTO
Motery’s growth also has the potential to inspire similar innovations across the MENA region, where digital adoption is on the rise. Its fintech-driven model could serve as a blueprint for other industries looking to modernize their services. As the company expands its reach, it promises to deliver economic impact, facilitating car ownership and promoting financial inclusion.
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