Automotive tech platform, Autochek Africa, will offer new cars as it eyes bigger share of the region’s market.
The Nigeria-based company has on-boarded over 30 vehicle brands like Inchcape (LandRover) and CMC (Ford and Eicher Trucks) in East Africa and Dana (Kia), Coscharis (BMW, Landrover), Globe (Mercedes Benz) and Elizade (Toyota) in West Africa.
Autochek is also working with indigenous manufacturers such as Innosson Motors and Nord Motors.
Autochek received Sh1.5 billion ($13.1million) in October funding for expansion beyond the five countries it operates through financing vehicle ownership.
Customers can access digital financing solutions for the new cars and trucks with repayment tenures of up to 60 months from partners such as Ecobank, NCBA and Access bank.
“We are excited to partner with financiers and the automotive industry to provide this facility. It is in response to customer feedback to democratise the purchase of brand new cars through affordable financing options,” Autochek Africa’s COO, Timi Tope Ologunoye said.
Autochek platform has been building on partnerships with automotive manufacturers and financiers, to attract customers with the shifting consumer demands.
The Sh1.5 billion funding received is expected to help the company expand beyond Nigeria, Kenya, Ghana, Uganda and Cote d’Ivoire, its recent entry.
It also acquired Cheki Kenya and Cheki Uganda.
As part of the investment by Mobility54 one of the financiers, Autochek has partnered with CFAO (Toyota, Suzuki, Mitsubishi) across Africa to facilitate auto financing for all CFAO brands.
The company plans to extend the brand-new automobile portfolio through multiple carrier partners within the Autochek platform by the end of the year, with the goal to launch over 300 new cars listed across all markets.