RIYADH: The UAE-based car subscription service, Carasti, has raised $2 million in a bridge round funding by venture firms Net Ventures and Rua Growth.
Providing its customers with a range of new and used cars on a monthly fee, Carasti is planning its launch in the Kingdom as it prepares for another series A round.
“I’ve been visiting and doing business in Saudi Arabia for many years, and I can safely say that no country in the world is transforming as quickly or building for the future in the way that Saudi Arabia is,” Carasti CEO Claudio Esposito-Aiardo said.
Carasti will use its acquired funds to support its launch in the Kingdom by allowing its customers to subscribe to an all-inclusive fee that allows access to new and used cars between one and 24 months.
The startup is also launching a Ramadan offer for Saudi customers by giving 50 percent off on the first month for subscribers.
