iQ Cars

iQ Cars is an online automotive marketplace that facilitates the buying and selling of new and used vehicles in Iraq, catering to individual consumers and dealerships alike. iQ Cars is an online automotive platform that focuses on the sale of vehicles in Iraq. The company was founded in 2020 and is based in Erbil, Iraq. The firm has successfully executed one transaction deal to date, with its most recent deal occurring on April 28, 2025.

The founder of iQ Cars has previous experience in the automotive industry, although specific prior ventures are not disclosed. iQ Cars operates as an online automotive marketplace specializing in the sale of new and used vehicles in Iraq. The core product offerings include a wide range of automobiles, encompassing various brands and models, from luxury vehicles to more economical options. iQ Cars provides a platform that facilitates the buying and selling of cars, allowing private sellers and dealers to list their vehicles while enabling buyers to search through a comprehensive inventory based on specific criteria such as make, model, year, and mileage.

The marketplace serves a diverse client base, including individual consumers seeking personal vehicles, as well as dealerships looking to expand their offerings. Geographically, the company's services are available throughout Iraq, with a strong presence in major cities such as Baghdad, Erbil, and Basra. iQ Cars generates revenue primarily through transaction fees collected from vehicle sales facilitated on its platform. When a transaction occurs, the company earns a commission based on the sale price of the vehicle, which is structured to incentivize both the seller and the buyer.

This business model operates on a B2C basis, where individual consumers can directly purchase vehicles listed on the website, enhancing the consumer experience by providing a transparent and straightforward purchasing process. Additionally, iQ Cars may engage in partnerships with automotive dealers and service providers, introducing potential service fee revenues through warranty offerings or financing options tied to vehicle purchases. Specific pricing plans for vehicle listings and transactions are clearly defined, ensuring both buyers and sellers understand the financial implications of their transactions. In April 2025, iQ Cars raised an undisclosed amount of Seed funding led by new investor Euphrates Advisors.

The company intends to utilize this funding for business expansion and product research and development. Future products are under design to enhance the user experience and broaden service offerings. iQ Cars is also strategizing to expand into additional markets within the region, with specific focus on increasing its presence in cities beyond its current operations by the end of 2025.