Nigerian autotech startup, Fixit45 acquires Parkit to bolster its vehicle management services

Fixit45, a Nigerian autotech platform, has announced the acquisition of Parkit, a platform that provides a wide range of auto care services. The move, according to the startup, was made to help it fulfill its commitment to facilitate value-creating interactions among stakeholders in the automotive industry.

Following the acquisition, Fixit45 will now focus on repairs and maintenance, while Parkit will focus on auto care. The startup now offers a variety of products, including Xparts, a discovery and trading platform for spare parts that allows users to browse a large inventory, find exact parts using the platform’s AI tools, and receive these parts quickly.

Rampware is a Software-as-a-Service (SaaS) tool that assists auto-workshops in managing their operations and improving service delivery experience. Fixit45 believes that these new service offerings will perfectly position it to play a significant role in the autotech space.

Justus Obaoye, Co-founder and CEO of Fixit45, commented on the acquisition, saying his company decided to bring Parkit into its fold because his team found a lot of interconnectedness in what Parkit was doing.

“Parkit was committed to building out and digitizing the fragmented vertical in the autocare and car wash space. We found synergies in what they were doing at the time and we approached them to join us in this journey to fix and build the aftermarket ecosystem which has culminated in the acquisition.”

Justus Obaoye

Parkit, he added, has been fully integrated into the Fixit45 family, and the company is looking forward to providing market leadership in the auto technology space.

Changing the narrative in Nigeria’s automotive industry

Automobile ownership for car and fleet owners can be a frustrating experience due to the proliferation of second-hand vehicles popularly known as Tokunbo in the Nigerian vehicle scene. Inherent challenges include a highly fragmented, mostly unregulated industry, informal service providers who frequently lack technical expertise, and the proliferation of counterfeit spare parts with no warranty on repairs.

These difficulties have, in turn, had a negative impact on service providers’ service delivery experience.

Fixit45 aims to change this narrative by working with a variety of stakeholders and partners to deepen value creation in the ecosystem. Workshops, spare part suppliers, insurance companies, tow trucks, fintechs, and fleet owners are among the stakeholders.

Fixit45 is an autotech company founded in July 2021 by Justus Obaoye (CEO) and Abdulazeez Ogunjobi (CTO) that focuses on providing seamless, collaborative auto services such as auto repair and maintenance, fleet management, auto parts sourcing and delivery, auto care, refurbishment and upgrades, repair financing, mechanic workshop software, and pre-purchase inspections.

According to the company, its goal is to become Africa’s largest and most trusted autotech platform. It claims to have a presence in four Nigerian cities. It also has over 100 network partners and manages over 2500 vehicles. According to Bemigho Awala, the company’s Head of Marketing and Communications, the uptake and adoption of Fixit45’s service platform by corporates in the FMCG, Mobility, and Tech industries is “gratifying to see.”

“The glowing commendations we have received will further spur us to do more in the aftermarket space. Our value propositions of affordability, peace of mind, quick turnaround time, convenience, quality assurance and accessibility will never go out of fashion. We will double down on these and ensure that the vehicle ownership experience is better improved,” he said.

As part of its Vehicle Intact Program, Fixit45 currently offers four service subscription plans (VIP). The VIP plan was created to provide high-quality, low-cost repair and maintenance services, with the goal of increasing the lifetime value of a vehicle or fleet and optimizing productivity.

This program’s subscription packages include:

• The Maintenance Plan is a commitment to routine and/or scheduled preventive maintenance, which reduces the need for vehicle repair work.
• The Extended Service Plan functions as an HMO for vehicles, with subscribers transferring to the company the responsibility of keeping their fleet and or vehicles operational at all times.
• Because breakdowns do not always occur on their own, the Emergency Service plan is intended to provide motorists with comfort and assistance in the event of a breakdown.
• The Service Plan ensures that subscribers do not have to be concerned about workmanship or keeping their vehicles in good condition.

“We have built a robust end-to-end ecosystem platform that caters for all players in the aftermarket segment. The industry has largely been based on brick-and-mortar operations and it is our intention to disrupt and digitize this space using technology,” Co-founder and CTO, Abdulazeez Ogunjobi says.