Cars45

What Cars45 does

Cars45 is an online used car marketplace operating across seven African and South Asian markets — Nigeria, Kenya, Uganda, Ghana, Tanzania, Ethiopia, and Bangladesh — with headquarters in Lagos, Nigeria. The platform enables consumers to buy, sell, and finance pre-owned vehicles through a hybrid digital-physical model in which vehicle listings are browsed online but transactions are anchored by 70+ physical inspection centres where vehicles undergo a proprietary 200+ parameter inspection process and document verification before sale closure. The company's brand carries the 'powered by Jiji' attribution, indicating Jiji as the parent or controlling platform entity.

The company monetizes through three primary streams: transaction commissions on consumer-to-consumer vehicle sales, spread capture on dealer purchases (with dealers earning up to 30% margin on inventory acquired below market price), and embedded car loan financing that extends installment purchase options to retail buyers. Customer segments include individual car buyers (the primary segment), individual sellers seeking quick disposal, and a dealer partner program targeting car dealerships seeking verified inventory. Distribution combines the cars45.com marketplace, organic social media presence on Instagram/Facebook/Twitter, and physical retail inspection centres across major Nigerian cities.

Founded in 2016 by Etop Ikpe (CEO) and Iyamu Mohammed (Co-Founder/VP Trading), Cars45 has cumulatively sold 26,000+ vehicles and inspects 1,500+ cars monthly. The company's core value proposition addresses the structural trust deficit in Nigerian used car transactions, where buyers cannot independently verify vehicle condition or legal status — the standardized inspection report and document verification services are positioned as the primary differentiator versus informal private sales and unverified classifieds.

Name

Cars45

Legal name

Cars45

Website

https://cars45.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

251–500 employees

Short description

Cars45 is a Lagos-headquartered online used car marketplace operating across seven African and South Asian countries, combining a digital platform with 70+ physical inspection centres to facilitate verified vehicle sales, financing, and dealer reselling.

Ownership category

akta.pro rank

Product category

Online Used Car Marketplace

NAICS

Used Car Dealers (44112), Used Car Dealers (441120), Automobile Dealers (4411), Other Motor Vehicle Dealers (4412), Motor Vehicle and Parts Dealers (441)

SIC

Retail-Auto Dealers & Gasoline Stations (5500)

akta.pro primary industry

Automotive Vehicles & Parts C2C (CRAFAKAE)

akta.pro secondary industries

New & Used Auto Purchase Loans (FSAKADAA), Auto & Vehicle Loan Brokerage (FSAEAEAK)

Keywords

• Used car marketplace
• Vehicle inspection services
• Car financing loans
• Auto dealer network
• Used vehicle trading

Headquarters

HQ city

Lagos

HQ country

Nigeria

HQ region

Africa

Offices6 records

Markets served

GTM type

B2B and B2C

Offering type

Digital Commerce or Content

Cost components

Operations, Personnel, Marketing or Sales, Technology or R&D, Infrastructure, Supply Chain

Revenue model

1. Transaction Commission / Marketplace Fee: Cars45 facilitates car sales between buyers and sellers, earning revenue through transaction fees. Dealers purchase vehicles at below-market prices through the platform's auction-style mechanism, with the platform capturing margin on the spread. The platform also earns from facilitating car loans offered to buyers.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels5 records

Core offering

Cars45 operates an online used-car marketplace that connects individual car sellers with buyers and dealer partners across Nigeria, supported by 70+ physical inspection centres that perform 200+ parameter vehicle inspections, document verification, and professional transaction management. The platform also provides car loan financing to buyers and a dealer partner program that supplies verified inventory to resellers at below-market prices.

Product overview

Cars45 operates as an online used car marketplace platform in Nigeria and across Africa, offering a unified platform for buying, selling, and financing vehicles. The core product is the car marketplace, which connects buyers and sellers through a verified inspection system covering 200+ parameters. Additional services include car loans for financing, a dealer partner program for bulk purchases, and professional car inspection services. The platform operates physical retail centers across Nigeria (70+ centres) and serves multiple African markets including Kenya, Uganda, Ghana, Tanzania, and Ethiopia.

Differentiator

Problem solved

Functional benefit

Products and services

• Cars45 Car Marketplace Online marketplace platform enabling users to browse, buy, and sell verified used cars across Nigeria and other African countries, with each listing supported by a detailed 200+ parameter inspection report and professional manager support through to deal close.
• Car Inspection Services Professional vehicle inspection service covering 200+ parameters, producing detailed condition reports that accompany every marketplace listing to ensure transparency before purchase.
• Sell Car Service Platform for individual sellers to obtain a free vehicle valuation, list their car, receive offers (including via auction), and complete a sale with same-day payment and full paperwork handling by Cars45.
• Car Loans Financing product that enables customers to purchase vehicles on installment plans, integrated into the Cars45 purchase process so buyers who lack sufficient upfront funds can complete a vehicle acquisition.
• Dealer Partner Program B2B program enabling car dealerships to purchase verified Nigerian-used vehicles below market price from Cars45, with margin potential of up to 30% on resale.

Quantifiable outcome

• 26,000+ vehicles sold through the platform
• +3 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• Jiji: Jiji is the parent platform powering Cars45 and operates one of Africa's largest general online classifieds marketplaces, including significant used car vertical presence. Highly comparable on product (C2C used car marketplace), geography (pan-African), and business model (transaction-fee monetization), with broader category scope beyond automotive.
• CarMax: CarMax is the largest US used car retailer with standardized inspection processes, fixed pricing, and embedded financing. Comparable as a global benchmark for inspection-led used car retail, though operating in a more mature market with different unit economics.

Direct peers

• Cheki: Cheki is a leading used car marketplace operating across multiple African countries including Nigeria, with similar inventory listing and dealer-focused features. Most directly comparable competitor serving the same Nigerian buyer/seller segments with comparable classifieds and dealer lead-gen model.
• OLX (by Carousell): OLX Nigeria is a major general classifieds platform with strong used car listing presence, operating as a direct competitor for individual car listings and price discovery. Comparable on listing-based marketplace model but lacks Cars45's physical inspection infrastructure and verification depth.
• Autocheck Africa: Autocheck Africa provides vehicle history and inspection services in Nigeria and Ghana, overlapping with Cars45's verification-led marketplace proposition. Directly comparable on inspection-first approach and West African geographic footprint.

Emerging players

• Droom: Droom is one of India's largest online used car marketplaces with inspection, pricing, and transaction services — closely analogous to Cars45's full-stack marketplace model in an emerging market. Comparable on end-to-end transaction support, inspection-led value prop, and embedded financing.
• CarDekho: CarDekho is a major Indian auto platform with used car listings, inspection, and dealer services, operating in an emerging market context. Comparable on digital-physical hybrid model, dealer partnership programs, and consumer financing integration.
• Spinny: Spinny is an India-based full-stack used car platform offering inspection, certification, and transaction services. Comparable on inspection-led full-stack marketplace model with embedded financing, though in a different geographic context.
• Carro: Carro is a Southeast Asian used car marketplace with inspection, financing, and dealer services, similar in end-to-end model to Cars45. Comparable on full-stack transaction support and embedded financing, though operating across different Asian geographies.

Regional players

• AutoTrader (South Africa): AutoTrader South Africa is the dominant online automotive marketplace in that market with strong listing, dealer, and inspection-adjacent features. Comparable on Africa-region focus and online classifieds model for used vehicles, though serves a different geographic market.

Market position

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/cars45ng
• Facebookfacebook.com/cars45
• Instagraminstagram.com/cars45.nigeria

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds1 record

Investors5 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Cars45