Fixit45, a thriving startup in the automotive technology aftermarket sector has raised $1.9 million in pre-seed funding to help expand its operations.
Fixit45, which is a Nigerian company works, to optimise the automotive spare parts supply chain and ensure that its target market benefits from high-quality servicing and maintenance at affordable quality.
The startup has a network of over 300 operational workshops located in nine different Nigerian cities, catering for nearly 4,000 clients. Fixit45 collaborates with 1,200 spare parts manufacturers, distributors, and retailers, forming partnerships with industry leaders such as Ford, Toyota, Nissan, Honda, Hyundai, Mitsubishi, Mikano, GAC Motors and many other prominent distributors.
Launch Africa Ventures led its pre-seed round of $1.9 million USD with participation from investors such as Soumobroto Ganguly and Dave Delucia, along with a diverse group of interested angel investors.
Pankaj Bohhra, co-founder and COO of Fixit45 said:
“This funding represents a pivotal moment for Fixit45. We are profoundly grateful to our investors for their faith in our vision and our unwavering commitment to revolutionising the African automotive aftermarket sector. With this capital infusion, we are well-positioned to advance towards our expansion objectives,”
Janade du Plessis and Zachariah George, co-managing partners at Launch Africa Ventures, did not hold back their excitement about the partnership as they remarked saying:
“We are thrilled to collaborate with Fixit45 in transforming the African automotive aftermarket. Fixit45 boasts a formidable team, and its platform offers a seamless experience across the automotive aftermarket value chain. We are impressed by their unwavering commitment to excellence, compliance, and accountability. We have every confidence that the company is well-prepared to achieve its ambitious goals,”.
This funding will help Fixit45 grow its influence within Africa’s automotive aftermarket industry. As it is gearing up for market entry into East Africa, notably targeting Kenya and Uganda.