• Saudi Arabia’s Pinnacle Growth & Secondary Fund has invested in Carly, a Saudi automotive commerce platform, through a combination of primary and secondary shares. The financial terms of the transaction were not disclosed.
• Founded in 2026 by Faisal Raza, Carly operates a digital platform within Saudi Arabia’s automotive sector, serving a growing customer base and facilitating automotive transactions through its platform.
• The investment will support Carly’s next phase of growth and expansion within Saudi Arabia’s automotive and mobility market.
• In 2023, Carly closed a $1 million investment round.

Press release:

Saudi Arabia-based Pinnacle Growth & Secondary Fund has invested in automotive commerce platform Carly through a transaction combining primary and secondary shares. The financial terms of the investment were not disclosed.

The transaction forms part of Pinnacle’s strategy of investing in growth-stage companies using flexible investment structures, including both primary capital and secondary share purchases.

Carly operates an automotive commerce platform in Saudi Arabia, serving a growing customer base and facilitating transactions through its digital platform.

Pinnacle said the investment is intended to support Carly’s next phase of growth and strengthen its position in Saudi Arabia’s automotive market, while contributing to the development of the Kingdom’s technology and mobility ecosystem.

Pinnacle Capital is a Saudi investment company headquartered in Riyadh and licensed by the Capital Market Authority to conduct investment management and securities arranging activities.