Nigeria automotive tech company Autocheck has announced the acquisition of Checki Kenya and Uganda for an undisclosed amount. The two acquired car classifieds platforms were owned by Ringier One Africa Media (ROAM).
As per the statement, Autochek will close several deals in the coming weeks. The acquisition will complete its expansion across East Africa and follows this with a subsequent acquisition made several years ago of Cheki’s Nigeria and Ghana businesses.
In 2010, Cheki Ghana launched an online classification for dealers, importers, and private sellers across Kenya. This startup is headquartered in while Nairobi, expanding its operations across Ghana, Nigeria, Uganda, Tanzania, Zimbabwe, and Zambia. In 2017 Cheki was further acquired by ROAM.
According to the ROAM website, Cheki has operations in Zambia, Tanzania, and Zimbabwe and remains an exciting market for both parties. Cheki Kenya boasts 700,000 users and claims to list 12,000 vehicles monthly.
Autocheck’s East Africa expansion comes at a time when tech companies such as Planet42, Moove, and FlexClub are receiving investor attention in their need for flexible vehicle financing across the continent. Autochek further revealed that a funding round is in the works which looks to execute on this front and close by year’s end.