We reveal the top mobility investors in June

July 10, 2025

From the newsletter 

Suzuki Global Ventures (SGV), the venture arm of Japan’s Suzuki Motor Corporation, helped Kenya’s used car marketplace Peach Cars to raise $11 million Series A funding in June. The funding round included strategic investments from the Japan Bank for International Cooperation (JBIC), Gogin Capital, and The University of Tokyo Edge Capital Partners (UTEC). 

  • Suzuki holds around 40% of India’s passenger car market, and is aiming to grow its presence in Africa. “This investment reflects Suzuki’s broader strategy: Africa is our next India. And Peach Cars is building the infrastructure we want to be part of,” says SGV Senior Director Mike Sarchet. 

  • June saw African mobility investments from eleven institutional investors plus a number of angel investors.

More details

  • MyNextCar (MNC), a key fleet partner for ride-hailing giant Bolt in South Africa, raised $10 million in June, led by London-based asset manager Emso Asset Management. The deal was supported by Bolt itself, along with South African impact investor E2 Investments and Assemble Capital. 

  • Emso is a major investor in Africa’s mobility sector and provided debt financing to Moove in October 2022 and participated in another round in August 2021. It also led a venture funding round for 123 Lease in September 2023. 

  • AVIA Weghorst, which has a strategic focus on electric mobility with AVIA VOLT, helped Kenya-based startup Electric Transits Africa (ETA) raise $500,000 in a pre-seed round in June. Invest International was also part of the consortium and provided part of the financing. 

  • ETA offers electric vehicles through an EV-as-a-Service model, where customers receive a complete package for a fixed monthly fee: vehicle, maintenance, insurance, and charging infrastructure. 

  • During the month, a German family office helped South African car subscription startup FutureRent to raise $5.7 million funding in a venture round. A German family office is a privately held company that manages the wealth and investments of a single family or a group of families. Instead of tying customers to long-term bank loans, the company offers all-inclusive, medium term car subscriptions. 

  • Ingressive Capital, a prominent African VC, helped Egypt-based online freight forwarding startup Nowlun to raise $600,000 in June. Ingressive Capital has invested in dozens of companies in multiple sectors across Africa, mainly in Nigeria, Ghana, Kenya and Egypt. The VC is growing its presence in digital finance, logistics, and agri-tech. 

Our take

  • With fleet, car leasing, and EV platforms scaling, there's a pressing need for digital credit scoring, vehicle history databases, and cross-border regulatory support—especially for used car financing and mobility fleet risk assessment. 

  • African governments and DFIs should co-invest with foreign VCs and impact funds to build charging stations, vehicle financing tools, and leasing infrastructure, reducing overreliance on Western capital and speeding up localized scaling. 

  • Mobility startups like Peach Cars, MyNextCar, and ETA should deepen their partnerships with major auto OEMs like Suzuki, enabling access to vehicle supply, better financing, and market expansion. These alliances could fast-track electric and used car ecosystems across key African cities.