Meet Shekel Mobility, a mobility fintech startup with the audacious ambition of creating the greatest Auto dealership ecosystem capable of generating $10 billion in revenue by 2025.
Shekel Mobility makes it easier, smarter, and faster to start and develop your auto dealership, either locally or remotely. Because of the founders’ vast experience in the mobility sector, the firm can take a realistic and practical approach to addressing difficulties in the vehicle ecosystem. The most important of these are auto dealers’ access to finance and the digitization of their financial operations.
According to Sanmi Olukanmi, CEO and co-founder, auto dealers are the most important players in the vehicle value chain. They have, however, been ignored until now, and we are here to alter that.
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Shekel Mobility, in a nutshell, provides a streamlined finance and operational platform for auto dealers, allowing them to create sustainable companies.
The mobility firm began operations in January 2022 and has since grown to power more than $19 million in transactions with over 1,000 dealers in its ecosystem. This traction, along with the viability of the business solution, has led to their selection for the Y Combinator Winter 2023 Batch.
Shekel Mobility raised $1,950,000 in a pre-seed round that was oversubscribed. Ventures Platform led the investment round, with participation from other strategic investors such as Y Combinator, Voltron Capital, Zedcrest, and other angel investors.
“Our goal is to ensure that every auto dealer in Africa and other emerging markets is able to access the right kind of capital to maximize the opportunities available”. As it stands, we have enabled local dealerships to grow their businesses 3x and we are pumped with a passion to see this grow exponentially,’’ Benjamen Oladokun, CBO and co-founder of Shekel Mobility, said.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard