Syarah Raises $12 Million from Impact46 for Saudi Expansion
Saudi Arabia-based autotech startup Syarah has raised $12 million in a new funding round from Impact46 to expand its online marketplace for new and used cars across the Kingdom. The stage of the round was not disclosed.
Founded in 2015 by Salah Sharef and Fayez Alanazi, Syarah operates an online automotive marketplace that allows customers to browse and purchase new and used vehicles digitally and have them delivered to their location.
The platform enables consumers to complete much of the purchasing process remotely, reducing the need to visit a traditional dealership.
The company already serves customers across all regions of Saudi Arabia and has handled thousands of purchases, according to Arab Founders.
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Its model combines an online automotive marketplace with nationwide vehicle delivery, giving customers outside major cities access to a wider selection of vehicles.
The investment will support Syarah’s nationwide expansion, as well as the continued development of its digital platform and delivery operations. The company has not disclosed a detailed breakdown of how the capital will be deployed.
In 2024, Syarah closed a $60 million Series C round, led by Artal Capital, with participation from Elm, Impact46, Tawuniya, and Derayah Ventures.
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