About CarSwitch
CarSwitch is a company based in Dubai (United Arab Emirates) founded in 2016 by Imad Hammad.. CarSwitch has raised $9.3 million across 3 funding rounds from investors including Dubai Angel Investors, B&Y Venture Partners and Glowfish Ventures. CarSwitch operates in a competitive market with competitors including Kavak, Copart, Dubicars.com, YallaMotor and Auto Trader UAE, among others.
- Headquarter Dubai, United Arab Emirates
- Founders Imad Hammad
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$9.3 M (USD)
in 3 rounds
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Latest Funding Round
$7 M (USD), Series A
Aug 27, 2020
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Investors
Dubai Angel Investors
& 2 more
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Employee Count
Employee Count
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Funding Insights of CarSwitch
CarSwitch has successfully raised a total of $9.3M across 3 strategic funding rounds. The most recent funding activity was a Series A round of $7 million completed in August 2020. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 3
- Last Round Series A — $7.0M
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First Round
First Round
(13 Mar 2017)
- Investors Count 3
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2020 | Amount | Series A - CarSwitch | Valuation | B&Y Venture Partners |
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| Mar, 2018 | Amount | Seed - CarSwitch | Valuation | Dubai Angel Investors , Glowfish Capital |
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| Mar, 2017 | Amount | Seed - CarSwitch | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in CarSwitch
CarSwitch has secured backing from 3 investors, including venture fund investors. Prominent investors backing the company include Dubai Angel Investors, B&Y Venture Partners and Glowfish Ventures. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Global tech firms are funded at seed and growth stages.
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Founded Year | Domain | Location | |
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Angel investments in seed-stage tech firms in Dubai are provided.
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Founded Year | Domain | Location | |
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Disruptive tech ventures are funded and built by Glowfish Ventures.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by CarSwitch
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - CarSwitch
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Carswitch Comparisons
Competitors of CarSwitch
CarSwitch operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Kavak, Copart, Dubicars.com, YallaMotor and Auto Trader UAE, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Pre-owned cars are certified, inspected, and traded online via Kavak.
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| domain | founded_year | HQ Location |
Used and salvaged vehicles are offered via an online marketplace.
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| domain | founded_year | HQ Location |
B2C used car listing platform
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| domain | founded_year | HQ Location |
Provides an online platform for listing new and used cars.
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| domain | founded_year | HQ Location |
Operates an online platform providing listings for various categories of second-hand vehicles.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Carswitch
Frequently Asked Questions about CarSwitch
When was CarSwitch founded?
CarSwitch was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is CarSwitch located?
CarSwitch is headquartered in Dubai, United Arab Emirates. It is registered at Dubai, Dubai, United Arab Emirates.
Who is the current CEO of CarSwitch?
Imad Hammad is the current CEO of CarSwitch. They have also founded this company.
Is CarSwitch a funded company?
CarSwitch is a funded company, having raised a total of $9.3M across 3 funding rounds to date. The company's 1st funding round was a Seed of $1.3M, raised on Mar 13, 2017.
What does CarSwitch do?
CarSwitch was founded in 2016 in Dubai, United Arab Emirates, as a marketplace in the used automotive sector. Basic car details and upfront prices are provided by sellers, followed by quality inspections conducted by certified mechanics. Verified cars are listed with warranties, and one-time show days are arranged for viewings. Paperwork is handled post-sale. Buyers search inventory and purchase through the Android app.
Who are the top competitors of CarSwitch?
CarSwitch's top competitors include Kavak, Copart and Dubicars.com.
Who are CarSwitch's investors?
CarSwitch has 3 investors. Key investors include Dubai Angel Investors, B&Y Venture Partners, and Glowfish Ventures.
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