Autochek, the automotive technology company that is simplifying car ownership across Africa, has announced the launch of Autochek Financial Services. This new arm of the business will focus on providing a range of vehicle financing solutions for consumers and businesses across the continent.
The company launched in 2020 and has managed to spread its business across North, West and East Africa, facilitating more than 80,000 car loan applications and building partnerships with more than 70 financial institutions. Autochek says it has collaborated with more than 2,000 dealerships in the process.
“With the launch of Autochek Financial Services, the company is now positioned to double down its efforts to accelerate access to finance for Africans, and to improve the speed, structure and pricing of auto-financing on the continent,” the company said in a statement.
The newly created financial arm has its headquarters in Johannesburg, South Africa and is expected to build products that respond to the current trends in the market. It will be headed by Johan van der Merwe, a financial services veteran with more than 20 years of experience in risk, credit and asset finance.
“There is a great opportunity to drive shared value for consumers, manufacturers, financial institutions and other stakeholders by unlocking financing and I strongly believe that we can build the infrastructure to make this happen,” Merwe said. “I am looking forward to working with them to deliver more success and more growth across the continent’s automotive sector.”