Africar Group, a Sydney, Australia-based provider of a digital automotive marketplace, received investments from Stellantis N.V. (NYSE / MTA / Euronext Paris: STLA).
The financing has been used to launch Auto24, a direct to consumer used car company, in Ivory Coast, and enabled Africar Group to expand its market capabilities.
Led by CEO Axel Peyriere, Africar Group is an Australian entity, owning, operating and growing a large network of automotive marketplaces in Africa. Available in more than 45 countries, and covering markets totalling more than 1 billion people, the company has enabled millions of buyers and sellers of pre-owned vehicles to transact over the last 5 years. Africar Group is a venture initiated by Emerging Classifieds Ventures, specialising in building and operating marketplaces in emerging markets.
Stellantis is one of the world’s leading automakers and a mobility provider. Its iconic brands include Abarth, Alfa Romeo, Chrysler, Citroën, Dodge, DS Automobiles, Fiat, Jeep®, Lancia, Maserati, Opel, Peugeot, Ram, Vauxhall, Free2move and Leasys.
FinSMEs
07/11/2022