Saudi Wealth Fund Leads Fundraising for Online Used Car Trader
- Billionaire Olayan family also joins $35 million funding round
- Interest in Middle East’s nascent tech industry is picking up
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A unit of Saudi Arabia’s sovereign wealth fund is leading a $35 million funding round for SellAnyCar.com as the Dubai-based online car trader plans to expand in the kingdom.
Sanabil Investments is backing the start-up’s latest fundraising, along with Gulf Investment Corp. and Olayan Financing Co., Chief Executive Officer Saygin Yalcin said in an interview. Evercore Inc. is advising SellAnyCar.com, he said.