April 27, 2023
Global Brain has invested in Mecho Autotech Inc, a Nigeria-based leading automotive aftersales platform
Global Brain has invested in Mecho Autotech Inc (Mecho), a Nigeria-based leading automotive aftersales platform, through its GB-VIII Growth Fund Investment Limited Partnership (GB-VIII).
With the population estimated over 210 million in 2021, Nigeria is the most populous country in Africa. In terms of automotive industry, the number of registered vehicles is over 12 million and more than 90% of the vehicles are imported used vehicles. The aftersales market is also powered by imported parts, which are mostly substandard and goes through a broken supply chain. Mecho’s challenge is to streamline this supply chain through providing solutions to fleet owners, workshop owners, and parts vendors.
Global Brain sees a significant opportunity in the growth of the automotive aftersales market in Nigeria, headed by a strong entrepreneur and the team with vast field experiences. Global Brain will support Mecho on their parts procurement from Asian suppliers and business development for the new services to penetrate this fragmented market.
- Delaware, US
- Olsegun Owoade
- July 2021
- GB-VIII Growth Fund Investment Limited Partnership
- General Partner
- Global Brain Corporation
About Global Brain
- Tokyo, Japan
- Yasuhiko Yurimoto
- January 1998