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Home Startups Autochek launches lending fintech to tap into Africa’s growing vehicle financing market

Autochek launches lending fintech to tap into Africa’s growing vehicle financing market

by James Musoba
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Autochek is spinning out Autochek Financial Services, a new lending fintech to provide a range of vehicle financing solutions for consumers and businesses across the continent and as well support Autochek’s Marketplace platform on credit decisioning, collections, pricing, portfolio management and product development, as well as deliver an enhanced customer experience.

Launched in 2020, Autochek has businesses across North, West and East Africa and has worked with more than 70 financial institutions and more than 2,000 dealerships to process more than 80,000 car loan applications. Leveraging the vast reach of its online marketplace, the company originates auto loans powered by data analytics that makes it easier for financial institutions to offer credit to consumers.

With the launch of Autochek Financial Services, the company is now positioned to double down its efforts to accelerate access to finance for Africans, and to improve the speed, structure and pricing of auto-financing on the continent.

Headquartered in Johannesburg, South Africa, Autochek Financial Services will be led by Johan van der Merwe, a financial services veteran with more than 20 years’ experience in  risk, credit and asset finance with previous roles as Chief Risk Officer at WesBank Motor and SA Taxi.

According to Etop Ikpe, Group CEO and co-founder of Autochek, “Johan brings a wealth of experience to Autochek Financial Services and we are excited to have him on board as we build the infrastructure to transform automotive commerce across Africa. We want to empower more Africans with seamless access to vehicle financing and we are looking forward to delivering more solutions to bridge the affordability gap and make it easier for more Africans to purchase the vehicles they want”.

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