Automotive technology company Automatic control has launched 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 Servicesheadquartered in Johannesburg in South Africa, will continue to support Autochek’s Marketplace platform. The platform partners with car dealerships and other service providers to help consumers and businesses finance their vehicles.
Led by CEO Johan van der Merwe, it will also support car dealers, financial institutions and other stakeholders in the African automotive ecosystem. He will seek to improve credit decision, collections, pricing, portfolio management as well as product development.
Since its launch in 2020, Autochek has processed more than 80,000 car loan applications for individuals and businesses in nine countries in North, West and East Africa. He has worked alongside over 70 financial institutions and over 2,000 dealerships.
According to Etop Ikpe, group CEO and co-founder of Autochek, he wants to “give more Africans seamless access to car finance”. He said he looked forward to “providing more solutions to bridge the affordability gap and make it easier for more Africans to buy the vehicles they want.”
Johan van der Merwe adds: “There is a great opportunity to create shared value for consumers, manufacturers, financial institutions and other stakeholders by unlocking finance and I strongly believe that we can build the infrastructure to do so. to arrive at.
“Etop and the team have done an outstanding job of delivering the success Autochek has enjoyed to date and I look forward to working with them to deliver more success and growth in the continent’s automotive sector.”