# Shekel Mobility **Source:** https://geo.sig.ai/brands/shekel-mobility **Vertical:** Finance **Subcategory:** General **Tier:** Emerging **Website:** shekelmobility.com **Last Updated:** 2026-04-14 ## Summary Nigeria YC W23 automotive dealer fintech with $56M transactions across 1,400+ dealers at $2M+ ARR Nov 2023; $7M+ total ($3.2M Ventures Platform/MaC/YC equity + $4M+ debt) competing with AutoChek for $30B African used car market dealer financing. ## Company Overview Shekel Mobility is a Lagos, Nigeria-based B2B automotive fintech platform — backed by Y Combinator (W23) with $7 million+ in total funding including $3.2 million in equity and $4 million+ in debt in November 2023 co-led by Ventures Platform and MaC Venture Capital with participation from Y Combinator, Voltron Capital, and Zedcrest — providing African car dealers with a combined marketplace, neobank, and trading platform that enables inventory financing, dealer payments, and business banking for the $30 billion African used car market. Founded in 2022, Shekel generated $2 million+ in ARR by November 2023, facilitated $56 million in transactions across 1,400+ auto dealers, and financed 7,000 cars through Shekel Credit (providing up to $200,000 credit limits per dealer) with a 2025 goal of facilitating $10 billion in annual automotive transactions. Shekel Mobility's automotive dealer fintech platform addresses the capital and operational challenges that African used car dealers face: Nigeria's informal used car market (dominated by independent dealers at Lagos's Berger, Ikeja, and Trade Fair markets) operates largely on cash, with dealers who need to finance inventory unable to access formal bank credit because they lack formal financial records, collateral documentation, and the banking history that traditional lenders require. Shekel Credit (inventory financing with car title as collateral) enables dealers to purchase more vehicles than their cash position allows — growing inventory and revenue without waiting to turn over current stock before acquiring new vehicles. The neobank component (business banking accounts, payment collections, dealer-to-dealer transfers) captures the financial flows of the automotive ecosystem — creating the transaction data that enables Shekel to underwrite dealer creditworthiness through demonstrated sales performance rather than formal credit history. In 2025, Shekel Mobility competes in the African automotive fintech, dealer marketplace, and SME lending market with AutoChek (pan-African used car marketplace, $13.1M raised), Moove (vehicle asset financing, $229M raised), and DrivAll (Nigeria automotive platform) for African used car dealer financing and digital marketplace adoption. Ventures Platform and MaC Venture Capital's co-lead reflects conviction in African market-specific fintech models that combine lending, marketplace, and banking for informal SME sectors with large addressable markets. Y Combinator W23 backing connects Shekel with the African fintech investor community that has validated high-growth startups in Lagos's automotive and fintech sectors. The $56M facilitated transaction volume at $2M ARR demonstrates the take-rate economics of the marketplace and financing combination. The 2025 strategy focuses on scaling the dealer credit facility to support the $10B transaction volume goal, expanding to additional West African automotive markets (Ghana, Ivory Coast), and building the dealer inventory management system for digital lot management and pricing. ## Frequently Asked Questions ### What is Shekel Mobility? Shekel Mobility is a Nigeria-based mobility fintech company that operates a B2B marketplace neobank and trading platform for car dealers in Africa. Founded in 2022, the company provides financing and marketplace solutions specifically designed for auto dealers across the continent. ### What products and services does Shekel Mobility offer? Shekel Mobility offers a B2B auto dealer marketplace platform and Shekel Credit, a financing solution that provides credit limits up to $200K for car dealers. These services enable automotive inventory financing and sales growth for dealers through their neobank and trading platform. ### Who are Shekel Mobility's target customers? Shekel Mobility serves car dealers in Africa, specifically targeting the B2B segment. The platform currently works with over 1,400 auto dealers across the continent who use it for inventory financing and marketplace transactions. ### When was Shekel Mobility founded? Shekel Mobility was founded in 2022. The company participated in Y Combinator's Winter 2023 batch. ### Where is Shekel Mobility located? Shekel Mobility is based in Nigeria. The company serves car dealers across Africa, targeting the $30B African used car market. ### How much funding has Shekel Mobility raised? Shekel Mobility has raised over $7M in total funding, consisting of $3.2M in equity and over $4M in debt. The $3.2M seed round was raised in November 2023 and was co-led by Ventures Platform and MaC Venture Capital, with participation from Y Combinator, Voltron Capital, and Zedcrest. ### What are Shekel Mobility's key achievements and metrics? As of November 2023, Shekel Mobility has generated over $2M in ARR and facilitated $56M in transactions. The platform serves over 1,400 auto dealers and has processed transactions for 7,000 cars. ### What market is Shekel Mobility targeting? Shekel Mobility is targeting the $30B African used car market. The company has set an annual goal of $10B for 2025. ### What is Shekel Credit? Shekel Credit is Shekel Mobility's financing solution that provides credit limits up to $200K for car dealers. This product enables dealers to finance their automotive inventory and drive sales growth. ### What are Shekel Mobility's recent developments? In November 2023, Shekel Mobility raised $7M+ in total funding ($3.2M equity and $4M+ debt) and achieved over $2M in ARR. The company has facilitated $56M in transactions across 1,400+ dealers and 7,000 cars since its founding in 2022. ## Tags b2c, fintech, payment-processing, africa, startup, mobile-first --- *Data from geo.sig.ai Brand Intelligence Database. Updated 2026-04-14.*