Rinchi
TechInAfrica — OLX Group Announces an investment of ZAR 1.4 billion in Webuycars. Webuycars is a South African’s second-hand car buying service marketplace and was found in 2001 by Faan and Dirk van der Walt. The business has gone big in the second-hand vehicle’s buying service across the continent.
The collaboration between Webuycars and OLX Group are expected to reinforce the second-hand car ecosystem in Africa as a whole. Through the partnership, they are able to provide dealerships with better access to stock and private buyers as well as sellers with an advanced user experience including safety, convenience, and trust.
The CEO of OLX Group, Martin Scheepbouwer says: “We believe that Webuycars with its specialization in car buying service will be helpful to increase the experience of classified users on all OLX platforms. We are amazed by Webuycars that focuses on customers and their operating model. We are excited to work together in order to make the business grow bigger by building on customers’ trust and convenience, especially in the African market. We are very committed to our investment in Webuycars in South Africa’s potential market.”
CEO of Webuycars, Faan van der Walt talks about the investment of OLX: “We are very excited about the investment of OLX in Webuycars. It enables us to improve our service to the customers and fun our future business plan”.
The investment in Webuycars is a part of the parent company of OLX Group, Naspers’ commitment to accelerate growth in online food delivery and fintech business sector on the global scale.
