Autochek Nigeria
“Can an asset-light automotive marketplace become the pan-African auto-lending origination rail between banks and dealers?”
Founded2020
HQLagos, Nigeria
FoundersEtop Ikpe
Total raised$16.5M+
Latest roundSeed, October 2021
IndustryVertical SaaS / Automotive
The story
Founded 2020 by Etop Ikpe (ex-Cars45) as an asset-light automotive marketplace across Africa, growing rapidly via acquisitions of Cheki Nigeria/Ghana and expansions into Kenya, Uganda, Morocco and Côte d'Ivoire. The strategic shift came in 2023 when the company spun out Autochek Financial Services as a dedicated subsidiary — signalling that auto lending, not marketplace GMV, is the primary monetization thesis. Now positions itself as the credit-underwriting rail between 70+ banks and 2,000+ dealerships across Africa.
Product timeline
2020
Autochek launched by Etop Ikpe; acquired Cheki Nigeria and Cheki Ghana from ROAM Africa· acquisition
2020
Closed $3.4M pre-seed round led by TLcom Capital and 4DX Ventures· funding
2021
Raised $13.1M seed round to scale auto marketplace and financing across Africa· funding
2023
Spun out Autochek Financial Services as a South Africa-based subsidiary focused on vehicle financing· pivot
Acquisitions
Same company
Autochek Nigeria was analysed under more than one name on the same domain, so its stack is split across these dossiers. Each was analysed independently and may name providers the others do not.
The stack
1 layer disclosed in Autochek Nigeria’s embedded-finance stack
Lending
Autochek Financial Services (in-house)Auto loans (partner banks originated via Autochek)Autochek Cash Loan (car-collateralized, up to ₦50M, 3-48 months)
Accounting gap: none