Shekel Mobility, a B2B marketplace for auto dealers in Africa, raises $7M led by Ventures Platform and MaC VC
The World Economic Forum states that Africa has an average annual demand for 2.4 million cars and 300,000 commercial vehicles. This demand is increasing because of a continent-wide increase in disposable income, strong middle-class growth and rapid urbanization. But while most cars meeting this demand are used, car ownership in Africa is less than 45 cars per 1,000 people, in contrast to the global average of 203 cars per 1,000 people.
Read the full article: techcrunch.com