About Cars45
Cars45 is a company based in Lagos (Nigeria) founded in 2016 was acquired by Jiji in June 2021.. Cars45 has raised $5 million across 1 funding round from investors including Frontier Car Group, Jiji and Olx Group. Cars45 offers products and services including Cars45 Platform, Inspection Service, and Car Loans. Cars45 operates in a competitive market with competitors including Autocheck Africa, Velars Autos, ESL AUTOSHOP, Auto Shelter and Oslo Autos and Spares Procurement, among others.
- Headquarter Lagos, Nigeria
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Sectors
Transportation, Automotive & Logistics
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Email
***********
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Phone
*********
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Website
*********
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Social
*********
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$5 M (USD)
in 1 rounds
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Latest Funding Round
$5 M (USD), Series A
May 01, 2017
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Investors
Frontier Car Group
& 2 more
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Employee Count
Employee Count
- Acquired by
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Products & Services of Cars45
Cars45 offers a comprehensive portfolio of products and services, including Cars45 Platform, Inspection Service, and Car Loans. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Online service for buying and selling used cars
Detailed reports on car condition using 200+ parameters
Flexible loans to support car purchases
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Funding Insights of Cars45
Cars45 has successfully raised a total of $5M through 1 strategic funding round. The most recent funding activity was a Series A round of $5 million completed in May 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Series A — $5.0M
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First Round
First Round
(01 May 2017)
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May, 2017 | Amount | Series A - Cars45 | Valuation |
investors |
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Cars45
Cars45 has secured backing from 3 investors, including institutional investors. Prominent investors backing the company include Frontier Car Group, Jiji and Olx Group. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Builds & runs C2B marketplaces for used cars in emerging markets
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Founded Year | Domain | Location | |
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Goods and services are exchanged via an online classified marketplace.
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Founded Year | Domain | Location | |
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Operates an online platform for trading multi-category second-hand products.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Cars45
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
|
2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Cars45
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Cars45 Comparisons
Competitors of Cars45
Cars45 operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Autocheck Africa, Velars Autos, ESL AUTOSHOP, Auto Shelter and Oslo Autos and Spares Procurement, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Platform for vehicle loan
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| domain | founded_year | HQ Location |
Hosts an online marketplace for buying and selling modern and recent cars.
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| domain | founded_year | HQ Location |
Operates an online auction platform for second-hand cars.
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| domain | founded_year | HQ Location |
Provides car dealership, parts sales, maintenance, and repair services.
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| domain | founded_year | HQ Location |
Offers car sales, procurement, importation, and maintenance in Nigeria.
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| domain | founded_year | HQ Location |
Provides a versatile platform for buying high-quality used cars.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Cars45
Frequently Asked Questions about Cars45
When was Cars45 founded?
Cars45 was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Where is Cars45 located?
Cars45 is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Is Cars45 a funded company?
Cars45 is a funded company, having raised a total of $5M across 1 funding round to date. The company's 1st funding round was a Series A of $5M, raised on May 01, 2017.
What does Cars45 do?
Cars45 was founded in 2016 in Lagos, Nigeria, as an online consumer-to-business platform in the used car sector. Free online quotes are obtained by sellers, who can schedule inspections at designated centers. Offers are extended based on physical vehicle assessments, and payments are transferred to sellers bank accounts within 45 minutes if the offers are accepted. Operations focus on streamlining used car transactions in the Nigerian market.
Who are the top competitors of Cars45?
Cars45's top competitors include Autocheck Africa, Velars Autos and ESL AUTOSHOP.
What products or services does Cars45 offer?
Cars45 offers Cars45 Platform, Inspection Service, and Car Loans.
Who are Cars45's investors?
Cars45 has 3 investors. Key investors include Frontier Car Group, Jiji, and Olx Group.
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