Autochek Financial Services has been launched, a new division of the company that will focus on offering a variety of vehicle financing solutions for individuals and businesses all over the continent.
Autochek is an automotive technology company that is making car ownership more accessible and affordable throughout Africa.
The Marketplace platform, which collaborates with automakers and other service providers to make it simpler for customers and companies to finance their automobiles, will continue to be supported by Autochek Financial Services. Additionally, it will offer top-tier technology and advisory solutions to auto dealers, financial institutions, and other participants in the African automotive ecosystem, assisting them in enhancing customer experiences and improving credit decisioning, collections, pricing, portfolio management, and product development.
Since its introduction in 2020, Autochek has accelerated the penetration of auto-finance across Africa, making it possible for more people and businesses in North, West, and East Africa to access financing options in order to buy the automobiles they want. The business has processed more than 80,000 vehicle loan applications in less than two years of business by collaborating with more than 70 financial institutions and more than 2,000 dealerships. The company, which originates vehicle loans using data analytics to make it simpler for financial institutions to extend credit to customers, takes use of the extensive reach of its online marketplace.
The company is now well-positioned to further up its efforts to enhance the speed, structure, and cost of auto-financing on the continent with the introduction of Autochek Financial Services.
Johan van der Merwe, a seasoned financial services professional with more than 20 years of experience in risk, credit, and asset finance, will be in charge of Autochek Financial Services, which will have its main office in Johannesburg, South Africa. Johan formerly served as Chief Risk Officer at SA Taxi and WesBank Motor, two of South Africa’s top suppliers of asset and vehicle financing, before joining Autochek Financial Services as CEO (a vertically integrated company that provides financing, insurance and other services for the minibus taxi industry in South Africa).
He will oversee a leadership group that has more than 60 years of combined automotive and online retail experience in Africa.
Johan brings a wealth of experience to Autochek Financial Services, and according to Etop Ikpe, Group CEO and co-founder of Autochek, “we are pleased to have him on board as we build the infrastructure to revolutionise automotive commerce across Africa. We look forward to bringing more solutions to close the affordability gap and make it simpler for more Africans to buy the cars they desire. We want to empower more Africans with seamless access to vehicle financing.
“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,” said Johan van der Merwe, Chief Executive Officer of Autochek Financial Services. I am looking forward to working with Etop and the team to deliver even more success and more expansion across the continent’s automotive sector because they have done so much outstanding work to deliver the success Autochek has witnessed to date.