Accelerating Auto-financing across Francophone Africa
Nigeria-based auto-tech company Autochek has announced the acquisition of CoinAfrique, the leading platform for classified adverts in French-speaking Africa, to accelerate penetration of its auto-financing services into Francophone Africa. Autochek aims to build digital solutions that will enhance and enable a seamless and safe automotive commerce experience across Africa. The company uses technology to transform the automotive buying and selling experience for African consumers, by creating a single marketplace for consumers’ automotive needs, from sourcing and financing to after sales support and warranties. Acquisitions have been central to the startup’s speedy expansion strategy. Autochek launched in September 2020 having acquired automotive marketplaces Cheki Nigeria and Cheki Ghana from ROAM Africa. In addition to Ghana, it has expanded to Kenya and Uganda, with the latter two launches having again been accomplished by the acquisition of Cheki properties. In May, it acquired Moroccan counterpart KIFAL Auto to drive its expansion into the North Africa region. The startup, which last year raised a US$13.1 million seed funding round for West African expansion, has now moved into Ivory Coast, Senegal and other French=speaking countries with the acquisition of CoinAfrique.
SOURCE: DISRUPT AFRICA