![](https://numeris-media.com/wp-content/uploads/2023/11/ShekelMobility-1-1024x792.jpg)
Shekel Mobility (SM), the B2B marketplace that empowers auto dealers to find, finance, and sell cars, has secured over $7 million in funding, comprising $3.2 million in equity and over $4 million in debt.
SM helps car dealers find, finance and sell cars in the $30 billion African used car market, and intends to build the largest auto dealership ecosystem, with annual transactions worth $10 billion by 2025.
According to co-founder, Benjamen Oladokun, the funds will be applied to quadrupling the startup’s current Annual Recurring Revenue (ARR) of slightly over $2 million, as well as leveraging this momentum as it gears up for its next priced round.
![](https://numeris-media.com/wp-content/uploads/2023/11/Team_ShekelMobility-1024x473.jpg)
Central to SM’s growth is its flagship product, Shekel Credit, which offers auto dealers immediate access to financing, with credit limits stretching to $200,000 for vehicle purchases.