South African Startup Michanic Secures USD 400 K Debt Capital

South African mobile car service and repair platform Michanic has secured USD 400 K in debt capital from the MultiChoice Innovation Fund to help it continue to develop its technology and expand across the country.

Michanic allows users to request instant service and repair quotes from its online platform, saving up to 35% compared to dealerships and independent garages in the process. The startup currently works with over 100 partner mechanics in Gauteng and Johannesburg and has serviced thousands of cars since inception. The funding will also assist the startup to improve its technology and enable them to reach more customers.