Riyadh – Sharikat Mubasher: Syarah, a Saudi e-commerce platform for new and used cars, announced it has signed a memorandum of understanding (MoU) with J-B, a financial platform focused on simplifying access to credit and loan information, to provide financing solutions for J-B customers.
The agreement, signed during Money20/20 Middle East, aims to offer more flexible financing options and simplify the process of vehicle ownership for customers.
Syarah operates a digital car-buying platform covering both new and used vehicles, supported by refurbishment and logistics facilities spanning more than 50,000 square meters in Riyadh. The company also operates an in-house logistics arm handling more than 20,000 vehicle drop-offs annually.
While J-B provides users with information and tools related to credit and loans, with a focus on improving financial literacy and helping customers understand their financing options.
Through the partnership, the companies will seek to enhance the car-buying experience by connecting vehicle purchases with financing solutions and making the process more accessible and streamlined.
Worth noting, Money20/20 Middle East, the region's leading fintech event, took place from 14 to 16 September in Riyadh, bringing together over 600 investors, more than 350 brands, over 350 speakers, and more than 150 startups.
