Nigeria’s Mecho Autotech Raises USD 2.15 Mn Seed Funding

Nigerian vehicle repair and maintenance startup Mecho Autotech has raised a USD 2.15 Mn seed funding round to expand its capacities and acquire more customers. Investors in the round included Future Africa, Hoaq Capital, Cathexis Ventures, V8 Capital, Silver Squid, and Tekedia Capital. The round was oversubscribed by over 300%.

 Mecho Autotech offers repair and maintenance services to businesses and consumers through in-house and third-party service capacity which has passed rigorous assessments. Mecho Autotech plans to use the capital to expand its multi-channel service capacity, engineering team, and marketing budget for B2C acquisition.