CarFirst, a startup, shuts down operations in Pakistan

The automobile marketplace ‘CarFirst’ thanked its stakeholders in a post on its LinkedIn page and stated that a team would remain in place to handle the “closing of the entity.”

Raja Murad Khan founded the company in 2016. Pakwheels, Vava Cars, the OLX car section, and a few other online buying and selling platforms competed with it.

CarFirst bought used cars and resold them for a profit, promising its customers a “secure, convenient, and hassle-free process.” It managed to run a mobile app as well as a physical network of 35+ purchase-and-sale hubs in Lahore, Karachi, Islamabad, Faisalabad, Multan, and Hyderabad.

 

According to the company’s official post:

CarFirst has decided to discontinue its operations in Pakistan. We would like to express our gratitude to our team, partners, and, most importantly, our customers for their unwavering support throughout our journey. Throughout the closing period, a team will be on hand to handle the entity’s closure and respond to questions from partners and customers.

The closure comes amid a rising trend of struggle for some companies in Pakistan, with several startups and established businesses announcing either staff reductions or the closure of verticals.

VavaCars, which is backed by the Dutch energy and commodity trading company Vitol, announced earlier this month that it has closed its operations in Pakistan, just over eight months after raising $50 million.