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
Not available
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Net Profit
Not available
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EBITDA
Not available
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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
Not available
- 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.
Online service for buying and selling used cars
Detailed reports on car condition using 200+ parameters
Flexible loans to support car purchases
People of Cars45
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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.
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.
| Investor | Description | Founded Year | Domain | Location |
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Builds & runs C2B marketplaces for used cars in emerging markets
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Goods and services are exchanged via an online classified marketplace.
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Operates an online platform for trading multi-category second-hand products.
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Investor details for Cars45
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Investments & Acquisitions by Cars45
Investment portfolio details for Cars45
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Financial Statements - Cars45
Detailed financials for Cars45
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Cars45 Comparisons
Peer comparison for Cars45
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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.
| Company Name | Domain | Founded year | HQ Location | Description |
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Platform for vehicle loan
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Hosts an online marketplace for buying and selling modern and recent cars.
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Operates an online auction platform for second-hand cars.
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Provides car dealership, parts sales, maintenance, and repair services.
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Offers car sales, procurement, importation, and maintenance in Nigeria.
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Provides a versatile platform for buying high-quality used cars.
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Detailed competitors of Cars45
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Latest news on Cars45
Complete news archive for Cars45
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Frequently Asked Questions about Cars45
Cars45 was founded in 2016 and raised its 1st funding round 1 year after it was founded.
Cars45 is headquartered in Lagos, Nigeria. It is registered at Lagos, Lagos State, Nigeria.
Cars45 is a funded company, having raised a total of $5M across 1 funding round to date.
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.
Cars45's top competitors include Autocheck Africa, Velars Autos and ESL AUTOSHOP.
Cars45 offers Cars45 Platform, Inspection Service, and Car Loans.
Cars45 has 3 investors. Key investors include Frontier Car Group, Jiji, and Olx Group.