Launch of Autochek financial services to facilitate vehicle financing in Africa


Automotive technology company Autochek has announced the launch of Autochek Financial Services, a new arm of the business which will focus on providing a range of vehicle finance solutions for consumers and businesses across Africa .

Autochek Financial Services will continue to support Autochek’s Marketplace platform, which partners with car dealerships and other service providers to make it easier for consumers and businesses to finance their vehicles.

It will also provide technology and advisory solutions to car dealerships, financial institutions and other stakeholders in the African automotive ecosystem, helping them improve credit decisions, collections, pricing, portfolio management and development. of products, as well as to provide an improved customer experience.

Since its launch in 2020, Autochek, headquartered in Johannesburg, has driven the penetration of car finance across Africa, enabling more consumers and businesses in North, West and East Africa. ‘Is to access financing solutions to buy the vehicles of their choice.

In less than two years of operation, the company claims to have worked with more than 70 financial institutions and more than 2,000 dealerships to process more than 80,000 auto loan applications.

Using its reach in the online marketplace, the company creates auto loans powered by data analytics that make it easier for financial institutions to offer credit to consumers.

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

Autochek Financial Services will be led by Johan van der Merwe, a financial services leader with over 20 years of experience in risk, credit and asset finance.

Prior to joining Autochek Financial Services as CEO, Johan served as Chief Risk Officer at WesBank Motor (one of South Africa’s leading vehicle and asset finance providers) and SA Taxi (a vertically integrated company that provides finance, insurance and other services for the minibus taxi industry in South Africa).

He will lead a management team with over 60 years of automotive and e-commerce experience in Africa.

Quotation

According to Etop Ikpe, Group CEO and Co-Founder of Autochek, “Johan brings a wealth of experience to Autochek Financial Services and we are delighted to have him by our side as we build the infrastructure to transform automotive commerce across We want to give more Africans seamless access to car finance and we look forward to delivering more solutions to close the affordability gap and make it easier for more Africans to buy the vehicles we want. ‘they wish “.

Johan van der Merwe, President and CEO of Autochek Financial Services, said, “There is a great opportunity to create shared value for consumers, manufacturers, financial institutions and other stakeholders by unlocking finance and I I firmly believe that we can build the infrastructure necessary to achieve this. occur. Etop and the team have done an outstanding job of delivering the success Autochek has enjoyed to date. I look forward to working with them to deliver more success and growth in the continent’s automotive sector.”

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