Nigerian automotive technology company, Autochek has raised a US$3.4 million pre-seed funding round to help it grow its operations and develop its platform.
The investment will go into the Nigerian and Ghanian markets that are expecting further technology in growing their teams. This pre-seed investment follows the company’s acquisition of Cheki Nigeria and Cheki Ghana brands back in September. This is the latest indication of Autocheck’s aggressive growth strategy.
According to founder and CEO of the startup company, Etop Ikpe, Autocheck company derived the early stage investment as a way of developing their technological products and services with the intent of transforming automotive trade across the continent.
He says the company is already dispersed across multiple locations and applying the technology built and developed by auto-tech experts, Autocheck is well positioned to scale quickly, as demand for reliable and well priced cars on the continent grow.
The CEO also said the company is working to transform the automotive sector on the continent.
By it’s new acquisitions, the startup now boasts 20,000 vehicles listed on their platform, including 12000 dealers and private sellers. The number includes several corporate customers and partners.