- Motery, the Kuwait-based online car buying and financing platform, successfully closed its first funding round at an $8 million valuation.
- The new investment will support the expansion of the platform’s services and strengthen its position in Kuwait’s automotive market.
- Funds will be used to enhance user experience, develop new financing solutions, and increase market share in the growing car sector.
Motery’s Expansion Strategy
Motery has announced the successful closure of its first funding round, securing a valuation of $8 million, marking a major milestone in expanding its digital automotive services in Kuwait.
The platform offers a seamless online car buying and financing experience, enabling users to search for vehicles, compare financing options, and complete their purchases entirely from home. It also provides flexible payment and financing solutions, making car ownership easier and more accessible.
Investment Impact and Market Growth
The newly raised funds will be allocated to improving Motery’s services, developing new financing solutions, and expanding operations within Kuwait. This funding round reflects investor confidence in Motery’s vision of delivering innovative automotive solutions.
Co-Founder’s Statement
Commenting on the funding round, Abdullah Al-Otaibi, Co-Founder of Motery, said:
“We are thrilled to secure this funding at a strong valuation, which will enable us to accelerate our growth and continue innovating in the automotive sector. Our mission is to simplify the car buying experience for consumers in Kuwait, and this investment marks a significant step toward achieving that goal.”
