Mobility technology company providing infrastructure to help entrepreneurs in Africa gain access to working capital Motor Africa has partnered with Fintech startup OnePipe to facilitate automatic payout settlements for vehicle owners and lending partners.
Both companies in a bid to facilitate automatic payout settlements have launched lending as a service (LaaS) to help mobility entrepreneurs gain access to working capital in form of an overdraft to finance car repairs, smartphones, purchase motor parts, vehicle, and personal insurance and family welfare support needs.
The technology which creates analytical telemetry and remittance income data will aid registered lenders in making informed lending decisions while managing smooth credit repayments.
Speaking on its partnership with Motor Africa, OnePipe CEO Ope Adeoye disclosed that working with Motor Africa will assist in addressing the challenges African mobility entrepreneurs experience when trying to get working capital financing.
Also speaking on the partnership, CEO of Motor Africa and co-founder of envio logistics Sylvester Chude disclosed that collaboration with OnePipe will facilitate automatic payout settlements to vehicle owners and lending partners while noting that commercial transportation is pivotal for the growth of any economy, and the role of technology and innovation is essential for its success in Africa.
With Motor Africa, leasing out cars to verified drivers has become seamlessly possible when users create a Motor Account. They can get the car inspected, choose their rates and terms and start receiving booking requests, guaranteed lease collections, and a Motor Card.
Investors King understands that ride-hailing mobility company Bolt has joined forces with Motor Africa to revolutionize mobility services in Africa. With this partnership, people renting out their cars can now connect with verified drivers in their city, creating more job opportunities and improving the overall quality of service for users.
Motor Africa is now offering its services in Lagos, Abuja, Ibadan, Benin, and Portharcourt, and aims to announce further locations in the second quarter of 2023. A Motor Africa account for self-drive mobility entrepreneurs includes a credit support package to help mitigate the risks associated with providing mobility services. Its credit assistance covers comprehensive insurance, GPS tracking systems, repair financing, gasoline, and cash for personal needs.
With Africa being the home to a rapidly expanding population of 1 billion people and a massive market for passenger and cargo mobility services, Motor Africa’s goal is to make it easier for mobility entrepreneurs in Africa to meet the rising demand for passenger and cargo services. Motor Africa utilizes connected vehicle data and extensive accurate data resources to change the mobility experience in Africa, one city at a time.
