DURBAN – Naspers’ classifieds business, OLX Group, has announced that they will be investing R1.4 billion in Webuycars.
Webuycars is a specialised car buying service that operates a car marketplace in South Africa. The business which was founded 17 years ago by entrepreneurs Faan and Dirk van der Walt has operations across the country.
According to Naspers, the combination of Webuycars specialised instant buying model and the proprietary online classifieds technology from OLX will strengthen the whole used car ecosystem in the country by offering dealerships with better access to stock and private buyers with an improved user experience that is focused on trust, safety and convenience.
Martin Scheepbouwer, the chief executive of the OLX Group said, “We believe that the technology and services from specialised car buying services like Webuycars can help improve the experience of classifieds users across our OLX platforms”.
He added that OLX is specifically impressed with the team’s focus on the customer and the lean operating model they have set up and they are looking forward to working together to empower car dealers and bring more convenience and trust to used car buying and selling in the country.
“We are extremely excited about this investment from the OLX Group as it will enable us to improve the experience of our customers and fund our future growth plans,” said van der Walt who is the chief executive of Webuycars.
– BUSINESS REPORT ONLINE