Monday, September 8, 2025
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact
No Result
View All Result
Techgist Africa | Africa Leading Tech News, Reviews and Tips
No Result
View All Result
Home Funding

Mecho Autotech, based in Nigeria, has raised $2.4 million in pre-Series A funding

Tech Gist Africa by Tech Gist Africa
09/19/2023
in Funding, News - West Africa
0 0
2
Mecho Autotech Nigeria

Mecho Autotech Nigeria

0
SHARES
Share on FacebookShare on Twitter

Mecho Autotech, a Nigerian company that offers high-quality auto components as well as car maintenance and repair services, has closed a US$2.4 million pre-Series A funding round in order to launch a B2B distribution platform for aftermarket parts.

Global Brain Corporation, Ventures Platform, and Uncovered Fund took part in the pre-Series A funding.  

Olusegun Owoade and Ayoola Akinkunmi founded Mecho Autotech in 2021 to provide businesses and customers with repair and maintenance services through in-house and third-party service capacity that has passed rigorous examinations. 

Mecho’s online market space will enable spare parts merchants and workshop owners to obtain inexpensive high-quality spare parts by leveraging its ties with aftermarket spare parts manufacturers in Asia.

Stock-outs of essential spare parts, such as tires, suspension components, brakes, and batteries, will be avoided as a result.

Mecho will also provide credit up to NGN10 million (US$13,000) to participants in the automotive supply chain, including working capital, inventory financing, and financing for vehicle maintenance and part purchases. 

“In our original business model, our core focus was on vehicle maintenance and repair. But we soon realized a much larger issue – there was an extreme scarcity of high-quality spare parts in the market. Spare parts vendors face frequent stockouts and struggle to access inventory financing. In our marketplace, vendors can source inventory from leading aftermarket spare parts manufacturers and access credit. By solving for spare parts stockouts, we can help solve one of the biggest problems in our industry,” said Owoade.

With the funding, the business will develop a B2B distribution network for aftermarket parts.

 

Read more on Tech Gist Africa:

Nestcoin, a Nigerian cryptocurrency startup, has received $1.9 million in funding

Traction, a startup offering merchant solutions in Nigeria, raises $6 million

Remedial Health, based in Nigeria, secures US$12 million in a debt and equity funding round

ShareTweet
Plugin Install : Subscribe Push Notification need OneSignal plugin to be installed.
Tech Gist Africa

Tech Gist Africa

Tech Gist Africa is a new media and technology news platform that focuses on the untold stories of innovative ideas closely connected to technology news from Africa.

Related Posts

REdimension Capital South Africa
Funding

REdimension Capital Secures $13.8 Million to Transform South Africa’s Proptech Landscape

by Tech Gist Africa
09/04/2025
0

Johannesburg-based REdimension Capital has announced the final close of its Real Estate Technology & Sustainability Fund I, securing a total...

Read more
Finnfund Poa Internet Kenya

Finnfund Invests $4M in Poa Internet to Expand Affordable Broadband in Kenya

09/04/2025
Holo Fintech UAE

Holo Secures $22M Series A to Revolutionize Homeownership in UAE and Saudi Arabia

09/03/2025
GITEX Nigeria 2025

GITEX Nigeria 2025: A Landmark Event for Africa’s Digital Future

09/01/2025
Agriculture Africa

Ghana to Become Africa’s First AI-Powered Agricultural Hub with $100M Japanese Investment

09/01/2025
Next Post
Emata Uganda

Emata, a Ugandan agritech startup, has raised $2.4 million in funding

Lupiya Zambia

Lupiya, a neobank in Zambia, has raised $8.25 million in a Series A round of funding

Apple iPhone15

Apple launched the iPhone 15 and iPhone 15 Plus

Comments 2

  1. Pingback: Lupiya has raised $8.25M in a Series A round of funding - Africapost
  2. Pingback: Mecho Autotech raises $2.4M in pre-Series A funding - Africapost
No Result
View All Result

The Big 5

ITIDA Egypt

Egypt’s Start IT Programme Welcomes Eight Innovative Startups in 47th Cohort

by Tech Gist Africa
09/01/2025
0

...

startup africa

Innovate47 Launches Food & Agri Accelerator to Empower African Startups

by Tech Gist Africa
09/01/2025
0

...

Dubai AI Accelerator

Dubai’s AI Accelerator has opened Registration for the “Future of AI in Government Services Accelerator” Program

by Tech Gist Africa
09/01/2025
0

...

Presight AI-Startup Accelerator

Presight AI-Startup Accelerator Ignites Global Innovation in Abu Dhabi

by Tech Gist Africa
09/01/2025
0

...

African tech ecosystem

Africa’s Growing Role in Global Tech Partnerships: Collaboration with Silicon Valley and Beyond

by Tech Gist Africa
08/25/2025
0

...

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

TGA

  • About us
  • Terms and Conditions
  • Privacy Policy
  • Contact

AFRICA

  • Made In Africa
  • People
    • Tech Leaders
    • Innovator of the Week
  • Start-Up Spotlight

NEWS

  • Africa News
  • World News

THE BIG 5

  • Big 5 Daily
  • Weekly News Roundup

SPECIALS

  • Guest Articles
  • How Tos
  • Op-Eds
  • Reviews
  • Tech Leaders
  • Tips

VIDEOS

  • Interviews
  • Tech Videos

Copyright © 2020 Techgistafrica. All Rights Reserved

No Result
View All Result
  • News
    • World News
    • World Regional News
    • News – East Africa
    • News – West Africa
    • News – South Africa
    • News – Middle East And North Africa
  • The Big 5
  • Specials
  • Opportunities
  • Innovators
  • Events
  • Videos
  • Contact

Copyright © 2019 TECHGISTAFRICA. All Rights Reserved

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.