Autochek
“Can a pan-African auto marketplace own car ownership by embedding bank-funded financing at the point of purchase?”
Founded2020
HQLagos, Nigeria
FoundersEtop Ikpe
Total raised$16.5M+ (disclosed through seed)
Latest roundSeed, October 2021
IndustryVertical SaaS / Automotive
The story
Autochek launched in 2020 as an automotive marketplace, leveraging the Cheki classifieds brand it acquired across Nigeria, Ghana, Kenya, and Uganda. The strategic wedge quickly became auto financing — the company partners with African banks (Stanbic IBTC) and embedded-lending fintechs (Pezesha) to originate car loans on its platform rather than holding credit risk itself. Subsequent acquisitions (KIFAL in Morocco, CoinAfrique in Francophone Africa) extended geographic reach, positioning Autochek as a pan-African auto commerce + financing layer.
Product timeline
2020
Autochek founded by Etop Ikpe; acquires Cheki Nigeria and Ghana from ROAM Africa· acquisition
2021
Acquires Cheki Kenya and Uganda, completing East African expansion· acquisition
2022
Acquires KIFAL Auto (Morocco) and CoinAfrique to enter North & Francophone Africa· acquisition
2022
Partners with Pezesha in Kenya to embed SME asset financing· lending
2024
Signs auto loan disbursement partnership with Stanbic IBTC Bank (Nigeria)· lending
The stack
1 layer disclosed in Autochek’s embedded-finance stack
Lending
Autochek Car Loans (Nigeria, Ghana, Kenya)Autochek Cash Loan (vehicle-collateralized, up to ₦50M)SME asset financing (via Pezesha, Kenya)Bank-funded auto loans (via Stanbic IBTC, Nigeria, ₦100bn target)
Accounting gap: none