Nigerian auto-tech startup Autochek has expanded to Kenya and Uganda after acquiring the Cheki platforms for each of those countries from ROAM Africa.
It plans to use 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.
The startup launched last September having acquired automotive marketplaces Cheki Nigeria and Cheki Ghana from ROAM Africa, and has since raised a US$3.4 million pre-seed funding round to help it grow its operations and develop its platform. Having opened its doors in Ghana, Autochek is now following the same playbook to expand to Kenya and Uganda, formalising an agreement with ROAM Africa to acquire Cheki Kenya and Cheki Uganda.
The deal will be finalised within the following weeks and will see Cheki Kenya and Uganda’s operations integrate with the wider Autochek operations. Building on Cheki’s 10 years of experience, Autochek is set to introduce additional technology solutions that will integrate the auto ecosystem as well as increase market adoption for auto loan financing.
“The acquisition of Cheki Kenya and Uganda is an important milestone for us, and we are excited to be working with ROAM Africa once again, building on their achievements over the past years. ROAM Africa has an unrivalled track record of operating and scaling some of Sub-Saharan Africa’s most innovative classified marketplaces and we look forward to leveraging on this solid business foundation,” said Etop Ikpe, founder and chief executive officer (CEO) of Autochek.
“Autochek’s mandate is to accelerate the ability of African consumers to access better quality and affordable vehicles by providing access to financing, while also derisking the auto lending process for financial institutions. We are long-time admirers and collaborators of the Cheki brand; following today’s news, we intend to provide even more trust and transparency in East Africa’s automotive sector, leveraging the unique networks we are now joining together.”