TechCrunch
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Nigerian startup Mecho Autotech has raised a $2.4 million pre-Series A round.
The startup offers automotive spare parts, vehicle repairs and maintenance services.
90% of the country’s more than 12 million registered cars (mainly used) require regular maintenance.
The automotive after-sales industry in Nigeria is highly fragmented and informal.
Mecho Autotech will collect data on spare parts demand from individual applications suited to the various supply chain stakeholders to assess market supply.
Supply chain stakeholders will access up to 10 million (~$10,380) in financing.
The startup is in talks with other banks to increase its credit line of credit.
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