About Cars45
Cars45 is a Transportation, Automotive & Logistics company based in Lagos (Nigeria) founded in 2016, and was acquired by Jiji in June 2021. Online C2B car buying platform. Cars45 has raised $5 million across 1 funding round from investors including Frontier Car Group, Jiji and Olx Group. Its website cars45.com draws about 83 thousand monthly visits. Cars45 offers products and services including Cars45 Platform, Inspection Service, and Car Loans. Its focus areas include Consumer, Auto E-Commerce & Content, Second Hand Vehicles and Cars. Its competitors include Autocheck Africa, Velars Autos and ESL AUTOSHOP; 1 of its 3 listed competitors has raised funding.
Company details
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.
- Total Equity Funding$5M (USD)
in 1 rounds
- Latest Funding Round$5M (USD), Series A
May 2017
- InvestorsFrontier Car Group
& 2 more
- Acquired by
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
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 $5M
- Total Rounds 1
- Last Round Series A — $5M
- First Round $5M
(May 2017)
- Investors Count 1
All 1 funding rounds of Cars45 with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| May 2017 | $5M | Series A | – | – |
3 investors in total: 3 institutional.
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 |
|---|---|---|---|---|
Builds & runs C2B marketplaces for used cars in emerging markets | 2016 | frontiercargroup.com | Berlin, Germany | |
Goods and services are exchanged via an online classified marketplace. | 2014 | jiji.africa | Nigeria | |
Operates an online platform for trading multi-category second-hand products. | 2006 | olxgroup.com | Amsterdam, Netherlands |
Investor details for Cars45
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- Complete investor list
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People of Cars45
36 people are tracked at Cars45 (6 in leadership, 30 in team).
| Name | Role | Group |
|---|---|---|
Ayobamigbe Adekunle | Head, Central Support Services | Leadership |
Maxim Makarchuk | Chief Operating Officer | Leadership |
Yuliy Shenfeld | CEO | Leadership |
Olasoji David Ojo (Acca | Chief Financial Officer | Leadership |
Oladipupo Obayeju | Chief Security Officer | Leadership |
Lilian Paul | Chief Of Sales And Commercial Operations, Nigeria. | Leadership |
Maureen Benjamin-Uche | Territory Manager, Retail Operations | Team |
Adeosun Mary Oluwafemi | Learning And Development Admin Officer | Team |
Ajuyah Weyinmi | Assistant Manager Inspection As A Service (iaas) | Team |
Stephen Oche | Cyber Security Analyst | Team |
Matthew Omonokhua | Center Operations Officer | Team |
Alao Qudus | Territory Technical Lead/qa/qc | Team |
Temitope Olaleye | Lot And Product Manager Yard Management System(yms) | Team |
Olajide Lawrence | Centre Operations Officer | Team |
Bolaji Aloba | Senior Procurement & Process, Compliance And Business Regulatory Executive | Team |
Ifeanyi Otudeme | Assistant Manager, Documentation & Audit | Team |
Onyedikachi Chigbo | Centre Operations Officer | Team |
Ismaila Ishola | Centre Operations Officer (technical) | Team |
Bobby Omekam | Technician | Team |
Promise Ndem | Territory Manager, Retail Operations | Team |
16 more people are available in the full profile.
Complete people profiles for Cars45
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Competitors of Cars45
Cars45 has 3 listed competitors in our database, 1 of them funded. They include Autocheck Africa, Velars Autos and ESL AUTOSHOP.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| autochek.africa | 2011 | Lagos, Nigeria | $16.91M | Platform for vehicle loan | ||
| velarsautos.com | 2022 | Abuja, Nigeria | Hosts an online marketplace for buying and selling modern and recent cars. | |||
| eslautoshop.com | 2019 | Lagos, Nigeria | Operates an online auction platform for second-hand cars. |
Detailed competitors of Cars45
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Web traffic of Cars45
The website of Cars45 (cars45.com) receives about 83K visits a month.
- Monthly visits83K
▼ 4.3% vs previous month
Websites whose visitors overlap most with Cars45. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| autochek.africa | 100% | 176.1K | #192,520 | View details | |
carlots.ng | carlots.ng | 90% | #801,196 | – |
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Related news about 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. The company's 1st funding round was a Series A of $5M, raised on May 2017.
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.
Yes. Cars45 was acquired by Jiji in June 2021.