Summary

Instacar, a leading digital auto auction platform, connects car sellers with a wide network of dealers and consumers in the UAE. To support the financial needs of dealers who often face cash flow constraints, Instacar partnered with Comfi to offer tailored financing solutions. This partnership enables dealers to maintain healthy cash flow, purchase more vehicles, and operate with greater financial flexibility.

The Client

Instacar is a digital auto auction platform that facilitates car sales between consumers and dealers, offering a streamlined process for both parties. As a key player in the UAE automotive market, Instacar has simplified the car-selling experience by connecting sellers to a network of buyers, including car dealerships and individual consumers. The platform is known for its ease of use, transparency, and ability to help sellers secure competitive prices for their vehicles.

The Challenge

In the highly competitive automotive market, car dealers often face financial constraints due to limited access to traditional financing. This restricts their ability to purchase additional inventory and maintain a steady flow of business. Dealers need reliable financial support to ensure they have enough working capital to continue buying and selling cars effectively.

The Solution

Through its partnership with Comfi, Instacar provides its dealer network with access to flexible financing solutions. Comfi offers working capital to dealers, allowing them to purchase more vehicles with extended payment terms of 30 days. This solution not only alleviates cash flow issues but also enables dealers to manage their finances better and grow their inventory.

Comfi also simplifies the underwriting process by assessing and managing the financial risks associated with dealer transactions. This allows dealers to focus on their core business activities while benefiting from financial support tailored to their needs.

The Results

Within the initial phase of the partnership, Comfi is piloting a $2M financing solution through Instacar, targeting the automotive market in the UAE. Early results have shown that this initiative has helped car dealers maintain healthier inventory levels and alleviate cash flow constraints, while Instacar has benefited from smoother operational efficiency.

This partnership also allows Instacar to gain a competitive edge among other car dealers and platforms in the UAE, as Comfi’s exclusive financing solutions give them a unique selling point, offering unmatched flexibility and financial support for dealers.

Client Testimonial

“Partnering with Comfi has not only improved our dealer network’s cash flow but also enhanced our ability to serve our customers more efficiently. Comfi’s flexible financing solutions are critical to our growth and success in the UAE automotive market.”

— Nasrullah Chaudhry, CEO and Founder of Instacar