QVM raises Seed funding round
QVM, a B2B SaaS Enabled Marketplace (SEM) solution that connects Vehicles Parts vendors worldwide to facilitate their daily operation, has closed an undisclosed Seed round, led by Awab Holding Company with angel investors also participating.
QVM serves parts merchants such as retailers, wholesalers, agencies, online B2C marketplaces, and more. The platform also provides services to relevant organizations, such as insurance companies, corporate maintenance workshops, etc. QVM operates as a private network to facilitate the daily operations between traders in the spare parts market of all kinds, including cars, trucks, equipment, and other vehicles. It also works to increase efficiency and productivity using technology.
The founding team, Tariq Rezai CEO, Farid Rezaei CTO, and Abdullah Al Zain CMO, started working on the technology in the spare parts industry in 2018. The platform was launched to solve the gap between the establishments working in this market for the business model that combines SaaS and the marketplace to be met with great success and expansion.
This round aims to further expand the platform’s scope by adding new features and services to the spare parts dealer to increase its productivity and increase the marketplace sales within the platform.
