MechoAutoTech

MechoAutoTech, founded in 2021 by Olusegun Owoade and Ayoola Akinkunmi, is a Nigerian company addressing the fragmented automotive after-sales market. Owoade, the CEO, brings over a decade of experience in actuarial and risk consulting, including a role as Chief Risk Officer at logistics startup Kobo360. Akinkunmi, the COO, has nearly ten years of experience as an automobile engineer and owns his own auto-mechanic shop. The company was part of the Summer 2021 batch of the Y Combinator accelerator.

Initially focused on connecting vehicle owners with a network of vetted mechanics for repair and maintenance services, the company quickly identified a more significant challenge: the scarcity of high-quality, readily available spare parts. This insight prompted a strategic pivot to include a B2B distribution platform for aftermarket spare parts. Mecho Autotech now aims to digitize and structure the end-to-end value chain of Nigeria's $8 billion automotive after-sales industry. The company serves both individual vehicle owners (B2C) and corporate clients with large fleets (B2B), such as Moove and Tolaram Group. Its revenue model originally included commission fees from service and parts charges, with plans for a subscription-based service for B2C customers. The expansion into parts distribution introduces a significant new revenue stream by tackling the estimated $10 billion spent annually on imported vehicle parts in Nigeria.

Mecho Autotech operates through a multi-channel approach. For vehicle owners, its platform and app provide access to a network of vetted workshops and technicians across Nigeria, facilitating the booking of services, tracking repairs, and making payments. For its B2B clients, it offers a centralized platform to manage fleet maintenance and repair records. A core part of its expanded strategy is a marketplace that allows spare parts vendors and workshop owners to source authentic parts directly from Asian manufacturers. The company also plans to provide financing options, in partnership with local banks, for inventory, working capital, and maintenance for players within the automotive supply chain. By collecting data through its various apps, Mecho aims to forecast demand accurately, reduce parts stockouts, and sell data-driven insights.

Keywords: automotive after-sales, vehicle repair, auto maintenance, spare parts distribution, Nigerian autotech, fleet management solutions, B2B marketplace, vehicle maintenance platform, automotive supply chain, aftermarket parts, technician network, auto repair financing, vehicle diagnostics, Olusegun Owoade, Ayoola Akinkunmi, Y Combinator, autotech Africa, automotive data, vehicle service subscription, corporate fleet maintenance