Moroccan startup acquired by Nigeria’s Autocheck to drive North African expansion

Autochek, a Nigerian auto-tech firm, has purchased KIFAL Auto, a Moroccan competitor, to help it expand into the North African market.

Autochek’s goal is to provide digital solutions that will improve and allow a smooth and secure automobile commerce experience throughout Africa. By developing a single platform for customers’ automotive requirements, from sourcing and financing to after-sales service and warranties, the firm employs technology to change the automobile purchasing and selling experience for African consumers.

The startup’s rapid expansion plan has relied heavily on acquisitions. After acquiring automotive marketplaces Cheki Nigeria and Cheki Ghana from ROAM Africa, Autochek started in September 2020 and obtained a US $3.4 million pre-seed fundraising round shortly after.

It has expanded to Kenya and Uganda in addition to Ghana, with the latter two launches being made possible by the acquisition of Cheki assets.

After receiving a US $13.1 million seed round in October of last year, it has now announced the acquisition of KIFAL Auto from Morocco to help it expand throughout North Africa. With its transparent, safe, and cost-effective methods, KIFAL Auto, founded by Nizar Abdallaoui Maane in 2019, has established itself as a trusted partner for people and organizations in Morocco looking to purchase and sell used automobiles.

According to Autochek, the purchase put it in a unique position to tap into the innovation that underlies Morocco’s booming automotive ecosystem, as well as provides its market-leading solutions to address numerous difficulties across the value chain. And to better integrate the pan-African automobile sector in order to generate shared value for customers, manufacturers, financial institutions, and other stakeholders.

From my first interaction with Nizar and his team at KIFAL Auto, I was so impressed by their passion for delivering effective solutions and their commitment to innovation. They have built an excellent platform, and we are thrilled to have them onboard at Autochek to support the work we are doing to improve the automotive finance value proposition in Africa. There are so many parallels in our individual stories and I look forward to a long and mutually beneficial relationship for years to come,” said Etop Ikpe, CEO and co-founder of Autochek.

Maane said he had long admired Autochek’s efforts to improve customer experiences across Africa’s automotive value chain.

“There is so much we can learn from each other and I am looking forward to bringing my experience and expertise to deliver more game-changing innovation in Morocco and beyond. In our industry and especially in an African context, it makes a lot of sense to continue growing with a large player. Morocco is a gateway into North Africa and I am confident that we can unlock new value and drive further transformation across the board,” he said.