Saudi's Pinnacle backs automotive platform Carly in primary-secondary deal
What's the deal? Saudi Arabia's Pinnacle Growth & Secondary Fund has invested in CarlyDealroom has a profile for this one. Try Dealroom →, a Saudi automotive commerce platform, through a mix of primary and secondary shares. The financial terms were not disclosed.
What does Carly do? Founded in 2026 by Faisal Raza, it runs a digital platform in Saudi Arabia's automotive sector, facilitating transactions for a growing customer base. The company closed a $1 million round in 2023.
Who's backing it? Pinnacle CapitalDealroom has a profile for this one. Try Dealroom →, the fund's parent, is a Riyadh-based investment company licensed by the Capital Market Authority for investment management and securities arranging. The deal fits its strategy of backing growth-stage companies with flexible structures spanning primary capital and secondary purchases.
What's the endgame? The investment is meant to fund Carly's next phase of growth and strengthen its position in Saudi Arabia's automotive and mobility market.
The signal: Pinnacle framed the deal as contributing to the Kingdom's technology and mobility ecosystem, a nod to the growing appetite for structured, secondary-inclusive deals in Saudi Arabia's maturing startup market.
Read more: wamda.com
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