Focused on building digital solutions to enhance and enable automotive commerce across Africa, Autochek has launched its first-ever online truck loans marketplace in Nigeria and Ghana.
Owing to the startup’s drive to leverage the fast-growing smart environment, the company is moving the trucking industry online for smarter transactions and increased financing penetration.
Spicing up the initiative, Autochek is partnering with key logistics stakeholders in Nigeria and Ghana including Kobo360. This is an opportunity for customers interested in owning a truck to do so with available finances at affordable interest rates.
The new platform can be accessed via the Autochek Android app or website. All trucks undergo a 150-point check inspection process before being listed to guide the customers on the exact state of the trucks. The fleet ranges from Flatbeds, Semi-trailers, Tankers as well as Heavy, Garbage and Panel trucks.
While Autochek can now provide the same services to trucks as it does with the cars already listed on its platform, the startup’s 360-degree solution provides truck financing through finance partners with core expertise in fleet funding. They include Baobab Group and FundQuest, recognised across Africa, and with competitive rates. To ensure trucks are kept on the road in good conditions, truck owners can also enjoy affordable and expert maintenance services from standardised workshops and technicians in the Autochek partner network.
Shading more light, Autochek’s VP of Operations, John Egwu had this to say:
“Autochek’s focus has always been on transforming automotive trade on the continent. Now it is time for us to extend our services to trucks, as we build out our network and support our partners by providing a structured market for them to purchase and maintain their fleet.”
“Financing penetration for trucks is lower than 1% in Africa and our ambition is to migrate what is known to be a core offline market to a digital platform, in order to increase financing penetration and create a one-stop-shop that will not just meet partners’ needs but also ultimately increase earning capabilities and job creation across the value chain.”
Launched in 2020 by Etop Ikpe, a serial entrepreneur, and backed by TLcom Capital, 4DX Ventures, Autochek leverages technology and data to enhance purchase and sales experience across African consumers, by creating a single marketplace for all automotive needs. So far, the Autochek app already has 20,000 unique vehicles listed on its platform, over 12,000 dealers and private sellers as well as a range of corporate partners and customers.
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