iQ Cars Secures Major Seed Funding to Rev Up Iraq’s Auto Market Expansion

Editorial Team

Last updated 2-05-2025

2 min

Iraq-based iQ Cars has secured significant seed funding led by Euphrates Ventures for expansion.

Founded by Amer Saleh, iQ Cars connects buyers and sellers with an advanced digital marketplace.

As Iraq’s first PJSC startup, it focuses on transparency and growth in the automotive sector.

With new funds, plans include enhancing user experience and expanding to more cities.

iQ Cars aims to revolutionise Iraq's car market, making transactions easier and more transparent.

Iraq-based online car-trading platform iQ Cars has secured an impressive seven-figure seed funding round led by investment firm Euphrates Ventures, as it eyes further expansion across the country's automotive market.

The startup, founded in 2020 by Iraqi entrepreneur Amer Saleh, operates a digital marketplace designed to connect car buyers and sellers, offering tools that help customers browse different models, carry out side-by-side comparisons, and access detailed vehicle condition reports. Significantly, it's become the first homegrown startup in Iraq to officially register as a private joint stock company (PJSC)—a move that demonstrates its strong focus on transparency and long-term commitment to economic growth.

With these fresh funds pouring in from Euphrates Ventures, iQ Cars intends to enhance user experience, develop new digital tools, and expand into additional Iraqi cities. In addition, the company revealed plans to launch supporting business lines within the automotive sector, capitalising on its current digital infrastructure. It's always heartening to see startups adding some much-needed transparency and efficency—in a market that's traditionally been tough to navigate.

The platform currently operates in five Iraqi cities, positioning itself as a key meeting point for individuals and dealerships alike. A thriving digital scene has emerged in Iraq recently, and this funding could be a real boost for startups like iQ Cars, which show significant potential.

You wouldn't think so scrolling through Instagram—but the digital car-buying experience, especially in our region, historically left much to be desired. There was a time when buying a used motor involved trudging around dusty car lots under a merciless midday sun (probably grabbing a quick bite of masgouf after), but iQ Cars aims to shift this image dramatically, striving to take the uncertainty out of car transactions and make the whole process easier for everyone involved.

It's exciting to see businesses like this gain traction, and it'll be fascinating to watch how iQ Cars continues to reshape Iraq's automotive landscape in coming years. Something tells me we might see more impressive announcements from them down the road.

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