Motery
Overview
Motery was a car marketplace startup based in Kuwait City, Kuwait, that provided a digital platform for users to compare dealership offers, schedule maintenance appointments, and receive comprehensive car services. Founded in 2019, it quickly drew attention in the digital automotive market by integrating fintech-driven processes aimed at speeding up financial approvals and providing a user-friendly interface. The founders included Abdullah Emad Al Ateeqi as CEO and Mohammed Al-Abdulsalam as CTO. In recent years, the startup raised $8 million in seed funding, emphasizing its commitment to revolutionizing Kuwait's online car shopping experience.
Recent Developments
- December 23, 2024: Motery's ambition to reshape Kuwait’s automotive industry received a boost with fresh funding of $8 million, aimed at enhancing technology and expanding services to provide a competitive edge in the market. Sources report these improvements will focus on community engagement initiatives and further fintech integration.
- 2024: Motery planned to roll out significant platform upgrades, targeting enhanced customer experience and streamlined loan processes. This was part of their strategy to differentiate themselves from major players like Motorgy and Q8Car.
- Late 2023: Despite growing competition, Motery saw consistent growth in its user base and continued to attract tech-savvy younger generations looking for streamlined digital solutions for car purchases.
Company Information
| Attribute | Information |
|---|---|
| Founding Date | 2019 |
| Headquarters | Kuwait City, Kuwait |
| Founders | Abdullah Emad Al Ateeqi, Mohammed Al-Abdulsalam |
| Revenue | Not Specified |
| Profits | Not Specified |
| Key Investors | Unspecified Regional Investors |
| Industry | Digital Automotive Marketplace |
| Number of Employees | Not Specified |
Early History
Motery was conceived in 2019 as a response to the increasing demand for digital services in the automotive sector in Kuwait. Abdullah Emad Al Ateeqi, having a background in banking, aimed to create a seamless car buying and maintenance platform. Together with Mohammed Al-Abdulsalam, an industrial engineer, they launched an all-encompassing automotive service app. Initially, Motery focused on integrating various automotive services onto a single platform, distinguishing itself by offering financing options and a comprehensive suite of car-related services through an easy-to-use application.
Company Profile and Achievements
Motery’s business model revolved around consolidating car buying, financing, and maintenance services into one platform. Achievements included:
- Launching a comprehensive digital showroom and service app that connected users with multiple car agencies.
- Integrating fintech solutions to offer faster loan approvals and transparent fee structures.
- Developing partnerships with key investors which culminated in a successful $8 million funding round.
- Rolling out community engagement features that aimed to build an interactive user base by enabling car reviews and buying tips exchanges.
Current Operations and Market Position
Motery’s operations focused on enhancing the online vehicle purchasing experience in Kuwait and potentially the broader MENA region. By leveraging fintech technologies for financing services, it sought to improve customer transaction times and transparency. The company positioned itself with a competitive advantage in user-centric application design and streamlined service processes, targeting a growing demographic of tech-savvy consumers.
Conclusion
Motery has established itself as a notable presence in the Kuwaiti digital automotive space, driven by innovation in financial technology and digital engagement. With its significant emphasis on improving customer interaction and operational transparency, Motery aims to remain competitive. Looking forward, its ability to adapt to industry trends and consumer needs will likely determine its role in the evolving automotive market landscape.