Contactcars Acquires Egyptian Auto Auctions Platform Sa3ar

Egyptian leading automotive marketplace, Contactcars.com has announced the acquisition of Sa3ar Technology Solutions, car valuation technology and a dealer-specific auction platform

Sa3ar was founded by Adham Hosny and Hussein Hosny. The platform digitises auto-auctions deals by providing car valuation technology and a dealer-specific auction platform.

Contactcars.com is a subsidiary of Contact Financial Holding. The firm is committed to providing the automotive ecosystem in Africa with innovative value-added services.

With the acquisition of Sa3ar Technology, contactcars.com aims to further enhance the user experience by providing one holistic pricing tool for both the end-user and dealers, allowing the market enjoy consistent vehicle pricing.

“With online usage growing tremendously among both consumers and business, and with the increasing shift to digital by car market players, this acquisition allows us to bolster Contactcars’ market-leading position as well as lay the foundation for additional services going forward. This is just the first step in a series of investments which will be announced in due course,” said Said Zater, chief executive officer (CEO) of Contact Financial Holding.

Osman Abdelmoneim, Managing Director of contactcars.com, added that customers should expect more innovative services from the startup.

“our loyal user base has come to expect continuous innovation from us; the areas of market pricing and car valuation are no different and we expect to be the key source of car pricing for the automotive market. Furthermore, we are introducing a strong layer of automotive dealer services and the digital auction system will be a vital part of this new portfolio of dealer services” said Osman.

The Sa3ar founders and team will continue to work with Contact to develop new and innovative services to simplify the process of buying, selling and owning a new or used car through a faster, better experience.