Carly secures investment from Pinnacle to support next phase of growth
Saudi Arabia’s Pinnacle Growth & Secondary Fund has invested in Carly, a Saudi automotive commerce platform, through a combination of primary and secondary shares. The financial terms of the transaction were not disclosed. Founded in 2026 by Faisal Raza, Carly operates a digital platform within Saudi Arabia’s automotive sector, serving a growing customer base and facilitating automotive…
Pinnacle Growth & Secondary Fund, a Saudi investment company, has invested in Carly, a digital automotive commerce platform operating within the Kingdom's automotive sector. The transaction, which combines primary and secondary shares, has not disclosed specific financial terms. Carly, founded in 2026 by Faisal Raza, serves a growing customer base and facilitates automotive transactions through its digital platform.
The investment will fuel Carly's next phase of growth and expansion within Saudi Arabia's automotive and mobility market. In 2023, Carly raised $1 million in a separate funding round. Pinnacle's investment aligns with its strategy of supporting growth-stage companies using diverse investment structures, such as primary capital and secondary share purchases.
The investment is also aimed at strengthening Carly's position in Saudi Arabia's automotive market while bolstering the development of the country's technology and mobility ecosystem. Pinnacle Capital, the investment company, is based in Riyadh and licensed by the Capital Market Authority to manage investments and arrange securities.
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