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Ben Oladokun
About
Summary Benjamin Ola Dokun is the co-founder at Shekel Mobility, a B2B marketplace for auto dealers in Africa. The company helps dealers find finance and sell better by optimizing business transactions. Shekel Mobility aims to be Africa's first Mobility unicorn by powering about $10 billion transactions by 2025. Highlights Shekel Mobility is a B2B marketplace for auto dealers in Africa. The company helps dealers find finance and sell better by optimizing business transactions. Shekel Mobility ai
Best quotes
Our vision is to be the first mobility, you know, Africa first Africa's first mobility unicorn. Um you know, powering about $10 billion transactions you know, by 2025.
We have We've built an operating system, right, that helps these dealers buy cars. So, they buy the cars, you know, they fund their wallet to 30%. We provide 70% and they buy the cars within our operating system.
Most of the dealers are just like, you know, they get their stuff done, they're just on the streets, you know, hustlers trying to make stuff happen.
FAQ
What is Shekel Mobility?
Shekel Mobility is a B2B marketplace for auto dealers in Africa. The company helps dealers find, finance, and sell cars better by optimizing their business transactions through an operating system.
What are Shekel Mobility's core products?
The company has three core products: Shekel Credit, which provides financing for auto dealers to buy more cars; Shekel Trade (or Shekel Business), a marketplace for buying and selling cars cross-border; and Shekel Pay, a payment application.
How does Shekel Mobility's credit system prevent defaults?
Dealers fund their wallet with 30%, while Shekel provides the remaining 70%. The dealers must buy the cars within Shekel's operating system, which has allowed the company to maintain a 0% default rate.
What is the primary market for used cars in Nigeria?
The majority of transactions (about 85%) involve 'tokunbo' (foreign used cars coming in from overseas) and locally used cars, because most people cannot afford brand new vehicles.
How did Shekel Mobility initially fund its operations?
The founders started the company with $500,000 of their own money taken from their previous company alongside a few partners, later raising a pre-seed of about $1.95 million before joining Y Combinator.
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