CarFirst

About CarFirst

CarFirst was a technology-driven marketplace operating in Pakistan's used car sector, founded in 2016 by Raja Murad Khan. Khan, who previously served as the Managing Director for Carmudi Pakistan, identified an opportunity to modernize the fragmented and often inefficient process of trading pre-owned vehicles. He launched CarFirst with the vision to create a secure and convenient one-window solution for car sellers. The company began as a small operation with a couple of employees before securing backing from the Frontier Car Group. This led to rapid expansion, growing from a small home office to a significant operation with over 200 employees and a presence in Karachi, Lahore, and Islamabad by the end of 2017.

The company's business model centered on providing a hassle-free experience for individuals looking to sell their cars. CarFirst would conduct a detailed inspection and valuation of a vehicle, offer a competitive price, and purchase the car directly from the owner. These vehicles were then remarketed and sold for a profit. This model served both individual car sellers seeking a quick and secure transaction and car dealers looking for inspected inventory. To facilitate this, the company established a physical network of more than 35 inspection and purchase centers across major Pakistani cities, including Lahore, Karachi, Islamabad, and others. This brick-and-mortar presence was complemented by a mobile app and an online auction platform, which provided its network of partners and buyers with an efficient way to source vehicles. The company's technology, including its valuation algorithms, was developed by a dedicated office in Berlin, Germany.

Despite raising significant funding totaling $89 million and operating for six years, CarFirst announced it was ceasing its operations in Pakistan in August 2022. The closure was part of a broader trend of financial strain affecting startups in the country due to challenging economic conditions, which also saw other prominent tech companies in the region shut down or scale back their services. At the time of its closure, CarFirst had around 365 employees. A team was kept in place to manage the entity's closure and address queries from partners and customers.