Elm, the leading provider of digital and business solutions, recently announced its participation in series A+ investment in”Syarah" company, a digital platform that links car dealers with customers in Saudi Arabia.
Majid bin Saad Alarifi, Vice President of Marketing at Elm, said: "This investment comes in line with the company's strategy to invest in pioneering and financially rewarding companies through our investment entity at Elm, where we aim to support these technical companies and entrepreneurs in their early stages of expanding their business.
Alarifi highlighted that Elm support for these companies is represented by participation in Equity capital as well as supporting technical and practical expertise. Also, he pointed out that Elm will continue encouraging innovation and develop returns of investment in innovation and entrepreneurs, which will contribute to Elm growth in the market.
For their part, the founders of "Syarah" Salah Sharef and Fayez Alenazi, expressed that “Syarah” platform aims to transfer the concept of car market through facilitating its processes and make them easier, faster and safer than before, stressing that the partnership with "Elm" will help the platform significantly improve “Syarah” offers and products, it will also offer a wide range of services to customers. They added that "Syarah" is currently achieving outstanding milestones in terms of visits which are more than 80 million per month.
"Syarah" platform is a digital solution for car market, offering an integrated website and smartphone application for the sale and purchase of cars in Saudi Arabia. It also provides the latest offers of new and pre-used cars from auctions and car exhibitions in the Kingdom. Moreover, "Syarah" provides the contact information of exhibitions to facilitate contact with the owners directly. "Syarah" succeeded in attracting more than 2 million visitors per month, which makes it the largest electronic car market in the Middle East that ranks 15th in the world.
It is worth mentioning that Elm business is focused on developing customer-centric solutions through omni-channel platforms that include digital services, training, consulting solutions, IT solutions, in addition to providing support services to various organizations.