Syarah Raises $60 Million in Series C Round
The round was led by Artal Capital through the Artal Growth Opportunities Fund.
Saudi-based e-commerce platform Syarah has raised over SAR 225 million ($59.96 million) in a Series C investment round. The round was led by Artal Capital through the Artal Growth Opportunities Fund, with participation from Elm, Impact46, Cooperative Insurance, Derayah Ventures, and Yousef Al-Rashidi, founder of Haraj.com. The investment also included $20 million in bold debt from PFG.
This follows a SAR 75 million ($19.99 million) investment round in 2021 led by Impact46 and Elm, and a previous round in 2020 supported by Impact46 and other investors.
Founded in 2015, Syarah offers a used-car-buying experience with refurbishment and logistics centers in Riyadh, which span over 50,000㎡.
Their used cars come with a 10-day trial and a money-back guarantee. Additionally, they are backed by a comprehensive warranty that covers them for one year.
It also offers new cars to meet various customer needs.