IDO Investments supports Carzaty expansion into new markets
MUSCAT: Innovation Development Oman (IDO Investments) has recently announced its investment into Carzaty, an online retailer of new and used cars in the Sultanate.
Hassan Jaffar, managing director and chairman of the Board of Carzaty said, “We have achieved great success in Oman by combining a sophisticated online sales platform with the best-in-class customer service. We are proud to have sold hundreds of cars since our launch in 2017, with hundreds of happy customers validating Carzaty’s new car buying experience. Now, together with the support of IDO Investments and our other shareholders, we can further build our capabilities in the UAE and reach other important regional markets, including Saudi Arabia and Kuwait.”
Maryam Al Shidhani, Investment Associate at IDO Investments said, “Carzaty’s tremendous accomplishments in a record period of two years were a clear indication for us in our decision to support the company and help fuel its regional expansion. We are confident that Carzaty will achieve even more success in new markets in the coming years due to its innovative retail model, which promises car buyers new levels of reliability, affordability and convenience. We will provide Carzaty with the support to build its team and establish a robust presence in the region’s growing auto trade market.”
“As we embark on our journey into new markets, we are thrilled to have IDO among our strategic shareholders,” Marwan Chaar, Managing Director of Carzaty added.