Diligence memo · auto-generated · as of July 2, 2026
Michanic
Michanic has raised $400K over 1 round; too few niche peers to rank its valuation yet.
Businessfiled
Michanic is a private company, based in SA, Africa. SA’s Michanic secures $400k debt capital from MultiChoice Innovation Fund 0 By Tom Jackson on July 29, 2022 News , Southern Africa South African mobile car service and repair platform Michanic has secured US$400,000 in debt capital from the MultiChoice Innovation Fund to help it continue to develop its technology and expand across the country. Formed in 2016 by Lesetja Dikgale, Michanic allows users to request instant service and repair quotes from its online platform, saving up to 35 per cent compared to dealerships and independent garages in the process .
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
Michanic has raised $400K in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Pre-Seed (a round under $1.0M).
Largest single filing: $400K on 2022-07-29.
Most recent recorded round closed around 2022-07-29.
Valuation (modeled)modeled
Provath models Michanic at approximately $3.7M (range $267K–$23M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Not enough dated financing history to read a financing rhythm.
Comparablesmixed
Capital scale ranks ahead of 97% of sector peers (8525 compared).
Modeled value ranks above 97% of those peers.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.