Autochek is a technology company.
Autochek has raised $16.0M across 2 funding rounds.
Autochek has raised $16.0M in total across 2 funding rounds.
Autochek is an automotive technology company building a comprehensive platform to make car ownership more accessible and affordable across Africa.[1][2] It offers a one-stop marketplace for buying, selling, financing, maintenance, after-sales support, and warranties, serving individual consumers, businesses, auto dealers, and financial institutions in 9 countries including Nigeria, Ghana, Kenya, Uganda, and Egypt.[1][2] The platform solves fragmented automotive commerce by leveraging data analytics for vehicle loans—processing over 80,000 applications, disbursing ₦500M+ in loans, and partnering with 70+ financial institutions and 2,000+ dealerships—while recent launches like Autochek Financial Services accelerate financing access.[1][2]
Growth momentum is strong, fueled by strategic acquisitions (e.g., Cheki Nigeria/Ghana in 2020, majority stake in Egypt's AutoTager), $13.1M in total funding, and expansions into East, West, and North Africa, positioning it as a key player in Africa's auto-finance ecosystem.[1][4]
Autochek emerged in Nigeria as an auto-tech startup, debuting in September 2020 through the acquisition of automobile marketplaces Cheki Nigeria and Cheki Ghana from ROAM Africa, which provided immediate market entry and traction.[1] Founded around 2020 (with some sources noting 2011, likely pre-rebrand), it is headquartered in Lagos at 1 Sylvia Crescent, evolving from a digital classifieds buyer into a full-stack automotive infrastructure provider.[3][4] Early pivotal moments included rapid expansions to Kenya and Uganda via further Cheki acquisitions, building a partner-led network across 1,500+ dealers and workshops.[1][2]
The idea stemmed from transforming Africa's opaque, inefficient car buying/selling experience into a seamless digital ecosystem, with founders capitalizing on rising demand for affordable mobility amid growing middle-class populations.[1][2] Key milestones: processing 50,000+ applications, selling 500+ cars, and satisfying 50,000+ customers shortly after launch, setting the stage for financial services rollout.[2]
Autochek rides the wave of Africa's booming automotive fintech sector, where rising vehicle demand (driven by urbanization, e-commerce logistics, and a young population) meets underserved financing—only 5-10% of cars are financed continent-wide.[1] Timing is ideal amid digital payment adoption (e.g., mobile money) and post-COVID mobility shifts, with market forces like economic growth in Nigeria/Egypt and EV/used-car surges favoring scalable platforms.[1][2] It influences the ecosystem by aggregating stakeholders—dealers, banks, consumers—lowering barriers to ownership, catalyzing industry growth, and setting standards for data-enabled auto-commerce, much like how Jumia transformed retail.[1][4]
Autochek is poised to dominate Africa's $20B+ auto-finance market through deeper integrations like Autochek Financial Services and further North/East expansions, potentially hitting 1M+ loan applications via AI-driven underwriting.[1][2] Trends like embedded finance, EV adoption, and pan-African trade (AfCFTA) will propel it, with influence evolving from marketplace to infrastructure layer powering fleets and insurers. Watch for more M&A and global partnerships to solidify its lead in accessible mobility. This auto-tech innovator exemplifies how targeted infrastructure unlocks Africa's underserved sectors.
Autochek has raised $16.0M in total across 2 funding rounds.
Autochek's investors include TIDE Africa Fund.
Autochek has raised $16.0M across 2 funding rounds. Most recently, it raised $13.0M Seed in October 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Oct 1, 2021 | $13.0M Seed | TIDE Africa Fund | |
| Nov 1, 2020 | $3.0M Seed | TIDE Africa Fund |