A Lahore-based startup, CarFirst has now become the latest company in Pakistan to announce the shutdown of its operations across the country. “CarFirst has decided to shut down operations in Pakistan,” read a post on CarFirst’s LinkedIn page on Friday. The page also lists 365 employees who have added CarFirst as their employer on the professional networking and career development platform. “We would like to thank our team, partners, and most importantly our customers for their continued support throughout our journey,” it added.
CarFirst Provided a Smooth Process of Selling and Buying Cars
Used vehicles dealing startup, CarFirst said that a team will remain in place to handle the closing of the entity and to respond to queries from partners and customers throughout the closing period. The online platform provided car sellers a process to get their cars inspected and sold at a price within an hour, including the processing time for payment.
Moreover, CarFirst’s online auction platform for used cars also offered its App, which provided partners and a network of buyers with a quick way to find the car they needed. The shutdown of its operations comes amid a rising trend of the struggle for some companies in Pakistan with several startups and established businesses announcing either trimming down staff or shutting down verticals. Earlier in June, barely over eight months after it announced raising $50 million, VavaCars – backed by Dutch energy and commodity trading company Vitol – said that it has shut down operations in Pakistan.
Careem Has Also Suspended its Food Delivery Business in Pakistan
In addition to this, Careem also suspended its food delivery business in Pakistan, as it looked to redirect efforts to its ride-hailing and delivery verticals. The company gained popularity as a ride-hailing app before expanding to become a multi-service platform. While announcing its suspension of the food delivery business, it said it will “look to restart the service again in the future when the economic condition is more favorable”.