Meet Shekel Mobility, a mobility fintech startup with an audacious goal of building the largest Auto dealership ecosystem powering $10 billion dollars by the year 2025.
Shekel Mobility offers a simpler, smarter, and faster way to launch and grow your car dealership locally or virtually. As a result of the extensive background of the founders in the mobility sector, the startup can take a realistic and practical approach to address issues in the automobile ecosystem. The major of which are access to credit for auto dealers and the digitization of their financial operations.
According to the CEO and co-founder, Sanmi Olukanmi: Auto dealers are the most critical stakeholders in the automobile value chain. Yet, they have been neglected up until now and we are here to change that.
In one sentence, Shekel Mobility offers a simplified finance and operations platform for auto dealers: enabling them to grow sustainable businesses.
The mobility startup launched operations in January 2022 and has since grown to power $19M+ worth of transactions with over 1,000 dealers in their ecosystem. This traction, coupled with the validity of the business solution has gotten them selected for the Y Combinator Winter 2023 Batch.
In an over-subscribed pre-seed round, Shekel Mobility raised $1,950,000. The funding round was led by Ventures Platform with participation from other strategic investors including Y Combinator, Voltron Capital, Zedcrest and other angel investors.
Commenting on the company’s solutions, Benjamen Oladokun, CBO and co-founder of Shekel Mobility, said:
“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.