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Shekel Mobility, a Nigerian mobility fintech startup, raises $1.95 million in pre-seed funding.


Shekel Mobility, a fintech business focused on the mobility industry with the bold goal of becoming the largest auto dealership ecosystem capable of generating $10 billion in revenue by 2025.

Shekel Mobility helps you launch and grow your vehicle dealership locally or remotely in a more intelligent and timely manner. The company can handle issues in the car ecosystem with realism and practicality because to the founders’ extensive experience in the mobility business. The ability of auto dealers to obtain financing and the automation of their financial processes are the most significant of these.

The CEO and co-founder of the company, Sanmi Olukanmi, believes that auto dealers are the key participants in the automotive value chain. But up until now, they have been disregarded, and our goal is to change that.

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

In January 2022, the mobility company started operations. Since then, it has expanded to power more than $19 million in transactions with more than 1,000 dealers in its ecosystem. They were chosen for the Y Combinator Winter 2023 Batch as a result of this traction and the viability of the business proposition.

The pre-seed round of funding for Shekel Mobility garnered $1,950,000 despite being oversubscribed. Other key investors like Y Combinator, Voltron Capital, Zedcrest, and other angel investors joined Ventures Platform in leading the funding round.

“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,” says the organization. Benjamen Oladokun, CBO and co-founder of Shekel Mobility, stated, “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.




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