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§ Private Profile · Lagos, Lagos, Nigeria
Online platform connecting buyers and sellers of pre-owned vehicles in Nigeria, Ghana, and Kenya, focused on quick transactions.
Cars45 is a Lagos, Nigeria-based online marketplace that connects buyers and sellers of pre-owned vehicles by facilitating physical inspections and financial transactions within 45 minutes. The platform operates across Nigeria, Ghana, and Kenya, targeting a regional automotive sector where used cars account for approximately 90 percent of all vehicle sales. The company raised a $5 million Series A funding round in 2017 to expand its transactional trading model across the continent. Its former parent company, Frontier Cars Group, reached a $700 million valuation in 2019 after securing a $400 million Series D investment from OLX Group. Following this initial growth phase, the automotive retail platform was acquired by African classifieds operator Jiji in 2021 to consolidate regional market share. Cars45 was founded in 2016 by Etop Ikpe, Iyamu Mohammed, Sujay Tyle, and Peter Lindholm.
Cars45 has raised $5.0M across 1 funding round.
Cars45 has raised $5.0M in total across 1 funding round.
Cars45 has raised $5.0M in total across 1 funding round.
Cars45's investors include Frontier Car Group.
Cars45 has raised $5.0M across 1 funding round. Most recently, it raised $5.0M Series A in May 2017.
| Date | Round | Lead Investors | Other Investors | Status |
|---|---|---|---|---|
| May 1, 2017 | $5M Series A | Frontier CAR Group | — | Announced |