The startup offers an auction application that enables users to bid on or purchase items directly, ensuring transparency regarding the condition of products. It addresses fraud in the used automobile market and other sectors by providing services such as insurance and inspection for a diverse range of items, including watches and heavy machinery.
Funding
$10M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Online auctions often lack transparency, making it difficult for buyers to assess the true condition and value of items, especially in markets like used automobiles, watches, and heavy machinery. This lack of transparency increases the risk of fraud and misrepresentation for both buyers and sellers.
Solution
Mazadak provides a mobile application designed to create a transparent and reliable e-commerce marketplace for auctions and direct sales. The platform facilitates secure transactions for a range of product categories, including cars, watercraft, and watches. Mazadak aims to reduce fraud by ensuring a fair process with full transparency and credibility for all parties involved in the exchange. They provide careful examination of products to be sold, ensuring the best and easiest service for customers.
Target Audience
The primary target audience includes individual buyers and sellers, as well as businesses looking for a transparent and reliable platform for conducting auctions and sales of various items.
Features
- Mobile application for iOS and Android
- E-commerce marketplace supporting auctions and direct sales
- Support for various product categories, including automobiles, watercraft, and watches
- Sealed auction functionality for non-public auctions with confidential bidding