Nigeria-based car financing platform Autocheck, has acquired a majority stake in Egypt’s used cars marketplace, AutoTager, to deepen its presence in the North Africa country of Egypt.
The acquisition represents Autochek’s entry into Egypt, which is Africa’s second largest economy and the continent’s second largest automotive market.
The value of the transaction was not disclosed.
AutoTager is an Egyptian automotive technology company that makes it easier to find and buy cars. The venture backed startup is enabling easier access to vetted vehicles with financial assist for the consumers on its platform.
The Egyptian startup is connecting dealers with serious buyers and technology solutions to improve their operations.
This acquisition also represents the third for Autochek in less than a year and the sixth in under two years, reflecting its emergence as the leading Pan-African automotive technology company.
The Nigerian company now has active operations in nine countries across East, West and North Africa, with a partner-led footprint of more than 2,000 dealers and workshop locations.
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