Motor Africa, a mobility and IOT infrastructure startup in Nigeria, in partnership with OnePipe, a fintech infrastructure provider, has launched a lending as a service proposition to help mobility entrepreneurs gain access to working capital in the form of an overdraft to finance car repairs, purchase genuine spare parts, vehicle and personal insurance, smart phones, and cash for personal and family welfare support needs.
The technology, which generates analytical telemetry and remittance income data, assists registered lenders in making informed lending decisions while also managing seamless credit repayments. Motor Africa, a trade name of envio Logistics Inc., has activated more than 2,000 vehicles already on its platform and is now poised to enable those vehicle owners have access to credit services.
The service manages driver repayments to the vehicle owner and provides car maintenance oversights at partnered workshops. Co-founder and CEO of envio Logistics Inc, Sylvester Chude, who has been an active participant in the mobility industry, stated that cooperating with OnePipe will facilitate automatic payout settlements to vehicle owners and lending partners. Founded on January 22, 1995, THISDAY is published by THISDAY NEWSPAPERS LTD., 35 Creek Road Apapa, Lagos, Nigeria with offices in 36 states of Nigeria , the Federal Capital Territory and around the world.