Nigeria’s Auto Fintech Shekel Mobility Raises $1.95 Million Pre-Seed to Power Autodealerships

Nigeria's Auto Fintech Shekel Mobility Raises $1.95 Million Pre-Seed to Power Autodealerships

Shekel Mobility, a fintech focused on the mobility industry just raised $1.95 Million Pre-Seed funding to power Autodealerships.

The startup wants to become the largest auto dealership ecosystem generating $10 billion in revenue by 2025.

Shekel Mobility helps anyone launch and grow a vehicle dealership locally or remotely effectively especially when it comes to obtain financing and automating their financial processes.

See: Kenyan Fintech Kwara raises $3 Million Extension

The CEO and co-founder of the company, Sanmi Olukanmi, believes that auto dealers are the key players in the automotive value chain. And have been underserved until now, and Shekel Mobility’s goal is to change that.

Shekel Mobility offers auto dealers a streamlined financial and operational platform that enables them to build long-lasting businesses.

Shekel Mobility launched In January 2022, and has powered more than $19 million in transactions with more than 1,000 auto dealers in its network.

Shekel Mobility was chosen for the Y Combinator Winter 2023 Batch, one of the top startup accelerator in the world.

Shekel Mobility $1,950,000 Pre-seed round was led by Ventures Platform alongside other key investors like Y Combinator, Voltron Capital, Zedcrest.

Here’s a statement put out by Shekel Mobility:

“We want to make sure that every auto dealer in Africa and other developing countries can access the appropriate cash to take advantage of the opportunities available”

Benjamen Oladokun, CBO and co-founder of Shekel Mobility had this to say about the deal as well:

,As it stands, we have helped local dealerships increase their businesses 3 times, and we are pumped with a passion to see this develop tenfold.

Leave a Reply

Your email address will not be published. Required fields are marked *