Carasti expands to KSA following $2m bridge round

Carasti, the UAE-based car subscription service, has announced today that it will launch operations in Riyadh, Saudi Arabia on 23rd March 2022, allowing customers to subscribe to new and used cars for between 1 and 24 months for an all-inclusive subscription fee. The announcement comes following a successful bridge round where the company raised US$2m to help them drive growth and expand operations into Saudi Arabia. The round, which comes ahead of Carasti’s Series A funding round, saw participation from Net Ventures and Rua Growth Fund.

Launching with a Ramadan offer of 50% off the first-month subscription for new Saudi subscribers, Carasti customers can gain access to a fleet of brand new and used cars that suit any lifestyle or budget for only a fixed monthly fee; meaning they face no down payments, no loans and no depreciation that typically comes with buying a car. Carasti handles everything from vehicle registration, maintenance and servicing costs, roadside assistance, insurance and delivery.

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