CarSwitch: An online marketplace for utilized cars in the UAE | MENA startups, innovation, and tech news

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CarSwitch: An online  marketplace for utilized cars  in the UAE
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CarSwitch: An online marketplace for utilized cars in the UAE

“The used car market is an awesome place IF you can weed out a deal from a steal, navigate through sketchy conversations and shady transactions, and get the papers right so you don’t get stuck driving a dud.”

About the company

CarSwitch is an online exchange for used cars in the UAE. CarSwitch cuts off the job of the seller and the buyer completely. The company hires a certified consultant to look into the process of certifying, checking the warranty period, matching them with the potential sellers and advise them through the whole exchange. CarSwitch was founded in the year 2016. With the current ongoing year, the company has managed to climb till $12.3 million for their funding. In the “The Middle East’s 50 Most-Funded Startups”, a Forbes list, the company bagged the 23 rd rank. The investors of the company are as follows: Glowfish Capital, 500 Startups, DAI, Movelum, Equitrust, B& Y and other investors. “A small team with big dreams to drive used car sales to the 21st century!” the company quotes.

The creator

Imad Hammad, the Co-founder and CEO of carswitch.com. He spent his early life in Canada, Lebanon and the UAE Imad Hammad started up great. He was a consultant with McKinsey & Company for more than eight years. His main attention was towards the marketing and technology sectors during the time. “I was fortunate enough to watch senior leaders navigate turmoil across industries and geographies, and I will never be grateful enough for the real-life master’s courses in everything from analytics to leadership.” Imad Hammad quotes.

During an interview, Imad Hammad told the interviewer that his favorite role model was “Léon, from Léon, The Professional.” He values his potential to blend a single-minded focus to complete the objective at hand. The co-founder thinks that it is extremely important to have a structure in your work life. It breaks down all your tasks and helps you get a better vision for your work. Not just that, discipline plays an important role in building the company as well as your life. “If you don't keep pushing forward, things quickly revert to chaos” are some of his words.

The company’s establishment

CarSwitch was started in the year 2016 by Imad Hammad. The company was started by Imad Hammad and his ex-partner Ali Malik. Both the associates worked at McKinsey together. They shared their immense love and passion for the cars and that’s what made CarSwitch come alive. “Everything at CarSwitch.com is geared around an array of mini-experiments on top of rigorous analytics to point us in the right direction. We embraced that we won’t get it right the first time, and that’s ok, as we would rather adapt as quickly as possible and kill what features don’t work and invest behind what does.” says Imad Hammad.

The company’s vision

The company focuses on three important criteria which are:

 Peace of mind It’s important to play it safe while buying a car. Nothing’s more hectic than buying a car. Therefore, the company makes sure to go through all the formalities and processes. They make sure the car is in a good condition before handing it over to the buyers. It makes the work less hectic and the process more enjoyable.

 Better price As the company provides seller-to-buyer, it gives out a better price range to both parties. As this is an online marketplace, it cut-offs the price of the showrooms and extra expenses saving a lot more money than expected and hence giving out the best prices possible.

 Convenience The company makes sure that you don’t go through any inconvenience while you’re experiencing their site. They come to you and make sure the work process goes as smoothly as ever.
Wise words by the CEO “Don’t give up, don’t stop listening, and don’t stop fighting. You have 40 years of
a career in you, give or take – a corporate job will always be there but a disruptive opportunity to change a facet of the world doesn’t come nearly as often. If I were to give any advice from lessons learned it would probably be prototype, launch, and learn as quickly as humanly possible. Make time to connect with the start-up and investor community long before you desperately need a partnership or capital to keep going. This is a team sport, so give everything you can to make others successful – from your staff to other businesses.”

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