Online car seller, Cheki, has been acquired by Nigerian automotive tech company Autochek for an undisclosed amount. The acquisition of Cheki Kenya and Uganda will complete Autochek’s expansion into the East African Market after the company acquired the Nigeria and Ghana business from Cheki in 2020.
Cheki was launched as a startup in Nairobi in 2010. It operated as an online car classified for importers, dealers and private sellers. The company then expanded its operations to Nigeria, Ghana, Tanzania, Uganda, Zambia and Zimbabwe. The company was acquired by Ringier One Africa Media (ROAM) in 2017.
According to ROAM’s website, Cheki is still operating in Zambia, Zimbabwe and Tanzania. However, these markets are considered inactive, meaning Autochek have fully acquired Cheki’s main businesses.
Cheki Kenya is considered the main hub of the business, with over 700,000 users and over 12,000 vehicle listings monthly.
“Cheki Kenya has always been sort of the crown jewel,” Autochek CEO Etop Ikpe told Tech Crunch. “At the time, when we completed the Nigeria and Ghana acquisition, it wasn’t a conscious effort to make this happen, but it’s great that it happened.”