Mecho Autotech raises $2.4M, ventures into wholesale spare parts distribution
- Mecho Autotech has raised $2.4 million in a pre-Series A round to expand its automotive spare parts and vehicle repairs and maintenance services.
- The company aims to address the fragmented and informal aftermarket spare parts supply chain in Nigeria by importing and distributing aftersales spare parts.
- Mecho Autotech plans to develop supply-chain-tailored apps for the after-sales and maintenance market, allowing vendors to receive inventory finance and workshops to access working capital and acquire spare parts.
The expansion of Mecho Autotech's services and its focus on addressing the challenges in the aftermarket spare parts supply chain in Nigeria is a positive move. By importing and distributing aftersales spare parts and developing supply-chain-tailored apps, the company can improve the availability and quality of spare parts, as well as provide financing solutions for vendors and workshops. This will contribute to the growth of the automotive aftersales market in Nigeria.
