Fixit45

What They Do:

Fixit45 offers a digital platform for car repair services that is affordable and accessible for consumers and generates business for repair mechanics in various cities in Nigeria.

Fixit 45’s business model is a B2B2C model that matches the repairs needs of car owners with a transparent platform of qualified repairers and workshops, quality and affordable parts providers (both Original Equipment Manufacturers (“OEM”) and spare part suppliers). The revenue model is multifaceted with key earning points being:
- Platform subscription – for annual maintenance contracts
- Mark-up on part sales
- Commission on repair / service orders

Why we invested:

Market Size: The continent’s automotive market in 2020 totalled $28.5bn and was forecasted to grow at a compound annual growth rate of 5.5%.

The used car market totalled around $4.5bn in annual sales in 2019 according to the Nigerian Bureau of Statistics.

Early Positioning: First mover advantage as a smart Autotech solution.

Asset Light: Network of third party workshops.

The Founder:

Goodluck Ikporo is the founder of Fixit45

Active In:

Nigeria