- Egypt-based automotive marketplace Contactcars.com, a subsidiary of Contact Financial Holding, has acquired Sa3ar Technology Solutions, a platform that digitises auto auctions deals.
- The acquisition will enable Contact to enhance the user experience by offering a holistic pricing tool catering to both dealers and car traders.
Contactcars.com, Egypt’s leading automotive marketplace, today announces the acquisition of Sa3ar Technology Solutions – a platform that provides car valuation technology and a dealer-specific auction platform.
Contactcars.com, a subsidiary of Contact Financial Holding, continues to evolve and look for new opportunities to provide the automotive ecosystem with innovative value-added services. With the acquisition of Sa3ar Technology, founded by Adham Hosny and Hussein Hosny, contactcars.com aims to further enhance the user experience by providing one holistic pricing tool that will cater to both the end-user and dealers allowing the market to enjoy consistent vehicle pricing. The digital auction technology, though very new to the Egyptian market, will be consolidated resulting in one dealer-specific app provided to the dealers and car traders looking to digitize the purchase and sale of used cars.
In addition to acquiring the Sa3ar platform and technology, the Sa3ar founders and team will continue to work with Contact to develop new and innovative services to bring to market.
Said Zater, CEO of Contact Financial Holding, said “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.”
Osman Abdelmoneim, Managing Director of contactcars.com, added “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.”
Contactcars.com continues to focus on introducing new services for both consumers and dealers, with the aim of bringing the entire automotive ecosystem closer together and further simplifying the process of buying, selling and owning a new or used car through a faster, better experience.