Wednesday, July 2, 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

Shekel Mobility, a B2B mobility startup based in Nigeria has raised $7 million

Tech Gist Africa by Tech Gist Africa
11/23/2023
in Funding, Mobility, News - West Africa, Startups
0 0
1
Shekel Mobility Nigeria

Shekel Mobility Nigeria

0
SHARES
Share on FacebookShare on Twitter

Shekel Mobility, a B2B mobility startup based in Nigeria, has successfully raised $7 million in funding.

Ventures Platform and MaC Ventures were the primary investors in this round of funding.

The funding consists of more than $4 million in debt and $3.2 million in equity.

Among the other equity investors were Pioneer Ventures, Heirloom VC, Rebel Fund, Unpopular Ventures, Maiora Capital, PageOne Lab Inc., and Phoenix Investment Club.

Shekel is a neobank, trade, finance, and operations platform for car dealers that provides financing and management system software for auto dealerships. It was co-founded by Sanmi Olukanmi and Benjamen Oladokun.

According to an official announcement, Shekel Mobility has “powered transactions worth over $50M” to date. The mobility fintech startup has also reportedly worked with 1,300 vehicle dealers “to grow their inventories and triple their sales” through Shekel Credit, which offers fast credit of up to $200,000 for automobile purchases without collateral.

Marlon Nichols, MaC Venture Capital Founder and Managing Partner said: “Shekel Mobility has the potential to transform and ignite the automotive industry in Africa. The motivated executive team saw the opportunity in several African markets and created Shekel Mobility to finance and empower the automotive industry as well as uphold small businesses that require financing to survive. The team is enabling millions of dollars to move through the Nigerian economy and simultaneously providing locals with affordable automobiles.”

Kola Aina, the founding partner at Ventures Platform, noted that Shekel is building a crucial market-creating innovation that is important to expanding Nigeria and soon Africa’s automotive industry. 

The additional funds will be used to maintain Shekel Mobility’s remarkable development trajectory, expand into new markets, and improve its financial services.

 

Read more on Tech Gist Africa: 

AFEX, a startup in Nigeria specializing in commodities trading, has raised $26.5 million

WATT, a renewable energy company in Nigeria has raised $13 million in funding

Fixit45, an auto-tech startup based in Nigeria, has raised $1.9 million in a pre-seed 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

Kera Senegal
Funding

KERA, a Senegalese E-Health Startup Secures $10 Million Funding

by Tech Gist Africa
06/15/2025
0

Senegalese e-health startup KERA Health Platforms has raised US$10 million in funding from the International Finance Corporation (IFC), a member...

Read more
Nile South Africa

Nile, a South African Agri-Tech Startup Secures $11.3 Million in a funding round

06/15/2025
Salpha Energy Nigeria

Salpha Energy, a Nigerian Clean Energy Startup Secures $1.3 Million Investment

06/15/2025
COREangels

COREangels MEA Launches $10 Million Fund to Support Early-Stage Startups in the Middle East and Africa

06/15/2025
Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

06/15/2025
Next Post
Hyundai

Hyundai cars will be sold online by Amazon beginning in 2024

Pricepally Nigeria

Pricepally, a Nigerian food e-commerce startup secures $1.3 million in seed funding

HealthTech Hub Africa accelerator

The HealthTech Hub Africa accelerator program is now accepting applications

Comments 1

  1. Pingback: Shekel Mobility, a Nigerian B2B mobility startup has raised $7M - Africapost
No Result
View All Result

The Big 5

Blockchain

The Role of Blockchain in Enhancing Africa’s Financial Systems and Security

by Tech Gist Africa
06/30/2025
0

...

Artificial Intelligence

How Artificial Intelligence is Transforming Industries Across Africa

by Tech Gist Africa
06/23/2025
0

...

Africa startups

Kenyan Startups Invited to Apply for €100,000 develoPPP Ventures Grant

by Tech Gist Africa
06/15/2025
0

...

Neuralink Elon Musk

Neuralink Secures $650 Million in Series E Funding to Advance Brain Implant Technology

by Tech Gist Africa
06/15/2025
0

...

Telegram Grok

Telegram Scores $300 Million xAI Deal to Integrate Grok Across One Billion Users

by Tech Gist Africa
06/15/2025
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.