Auto
Autochek Secures $13.1m Seed Fund to Facilitate Auto Financing
By Adedapo Adesanya
Autochek, the automotive technology company facilitating auto financing across Africa, has secured $13.1 million in seed funding.
Co-led by follow-on investors, TLcom Capital and 4DX Ventures, the round also included participation from existing investors, Golden Palm Investments, Enza Capital, Lateral Capital as well as new participants, ASK Capital and Mobility 54 Investment SAS (the venture capital arm of Toyota Tsusho Corporation/CFAO Group).
With the new funding secured just under a year after Autochek’s $3.4mn pre-seed raise, the round was led by Autochek’s lead investors – TLcom Capital and 4DX Ventures.
As part of Autochek’s growth strategy, the capital will be deployed to bolster its core auto loan processing platform and deepen its footprint in West Africa, starting with its recent entry into Cote d’Ivoire.
Additionally, the company is rapidly expanding its footprint across East Africa, following its recent acquisition of Cheki Kenya and Cheki Uganda. As part of the investment by Mobility54, Autochek will be leveraging Toyota Tsusho’s vast retail network across 54 African countries to further deepen its expansion.
Launched in October 2020 and operational across East and West Africa in 5 countries – Nigeria, Kenya, Ghana, Uganda and Cote d’Ivoire; Autochek combines technology, underpinned by data analytics to deepen auto finance penetration across the continent.
Powered by its residual value algorithm, Autochek has built in-house digital solutions such as Collateral Management, Dealer Management Systems and a proprietary CRM system for managing stakeholder operations within the ecosystem such as vehicle financing, inspection, valuation, and inventory management.
Since its pre-seed raise in November 2020, the platform has achieved rapid traction across its business, most notably in the area of auto-financing, where the number of processed loan applications rose from just 10 in November to over 46,000 to date.
Autochek has partnered with 70 banks across the continent, including leading regional players such as Access Bank, Ecobank, UBA, Bank of Africa and NCBA Bank.
Since the start of the year, the startup has also achieved several key milestones, including over 1000 dealers on the Autochek network actively using the loan processing solution and over 15,000 certified and financeable vehicles on the Autochek marketplace across its markets. Over the course of the year, Autochek also launched its truck financing platform and, more recently, financing of brand new vehicles.
Speaking on the next phase of Autochek’s rapid growth following its fundraise, Mr Etop Ikpe, Founder and CEO of Autochek, said, “At Autochek, our driving force is to increase financing penetration on the continent; we have been amazed by the market adoption rate and the support from our banking partners in the countries we operate in.
“We stepped into this space knowing we were tackling one of the most significant challenges for Africa’s automotive sector – the lack of a simplified, digital-first financing process. By combining our expertise and networks, we have been able to impact the automotive sector.
“We are extremely delighted with the progress we’ve made in a short amount of time. With this funding and the support of our strategic investors, the entire team at Autochek are dedicated to delivering exceptional service for customers and partners, as well as deploying our technology across Africa.”
On his part, Mr Andreata Muforo, Partner at TLcom, says “Autochek has achieved significant traction in one of Africa’s key verticals and is making impressive progress in bringing transparency and efficiency in this complex and fragmented industry. The foundation of its growth has been the strong leadership of its CEO, Etop Ikpe, a repeat founder in the automotive market whose world-class experience gave us the confidence to initially invest in Autochek in 2020.
“We look forward to the next chapter of Autochek’s growth as it continues to unlock the major upside which has remained dormant in Africa’s automotive sector for decades.”
Auto
inDrive Lagos, Abuja Top Drivers Get N30m Fuel, Shopping Vouchers
By Modupe Gbadeyanka
Top drivers of a global mobility and urban services platform, inDrive, in Lagos and Abuja were recently rewarded with fuel and shopping vouchers worth N30 million through its Driver Rewards Campaign.
The promo was created by the company in response to rising fuel costs and increasing operational expenses. It is providing meaningful support to its driver community through this initiative, while celebrating their commitment and hard work for keeping Nigeria’s major cities moving every day.
The campaign, which started in March and will end in June 2026, involves distributing vouchers worth N30,000 each to 1,000 eligible drivers through a series of live raffle draws on inDrive’s digital platforms. This effort is designed to acknowledge and reward the most active drivers on the platform for their unwavering dedication and commitment to providing high-quality service to passengers.
The Country Lead for inDrive Nigeria, Mr Timothy Oladimeji, noted that the initiative underscores the organisation’s ongoing commitment to driver welfare and its mission to foster equitable opportunities within the mobility ecosystem.
Mr Oladimeji explained that the Driver Rewards Campaign is designed to ease some financial burdens while encouraging and celebrating drivers’ resilience, professionalism, and dedication to service.
“At inDrive, we understand the realities drivers face every day, especially as rising fuel prices continue to put pressure on their earnings. Our drivers are the backbone of our platform, and this campaign is our way of recognising their dedication and supporting them meaningfully.
“Through these rewards, we want to show that inDrive stands with drivers, values their contribution and remains committed to creating a fairer and more rewarding mobility ecosystem,” he said.
Auto
inDrive Unveils International Social Initiative Against Bullying
By Modupe Gbadeyanka
A social initiative to encourage parents to pay closer attention to their children’s emotional well-being and create space for open conversations has been launched by a global mobility and delivery platform, inDrive.
It is based on inDrive’s Cancel the School Trip campaign, first launched in Kazakhstan in April 2026.
Encouraged by the significant public interest in the project, inDrive intends to roll out the initiative across other markets within its global presence, including Nigeria.
As part of the initiative, users taking morning rides to school received a push notification asking whether they wanted to cancel the trip after the ride had already started. The message appeared to be an app error, but in reality, it served as a communication trigger — a way to pull parents out of their daily routine and redirect their attention to their child’s emotional state.
School bullying remains one of the most widespread — and at the same time one of the least visible — issues affecting teenagers worldwide. According to UNICEF, millions of children regularly experience bullying, yet many never speak about it to adults.
“We need to talk to children more often. Not just ask How are you? But genuinely notice their emotional state, mood, and changes in behaviour. Sometimes, even a short conversation can help identify a problem a child may be afraid to talk about,” the Country Lead for inDrive Nigeria, Mr Timothy Oladimeji, stated.
The symbol of the campaign became the back seat of a car — a space where parent and child are alone together and can talk without distractions. The organisers believe there is not always a need to create entirely new communication rituals; sometimes, it is enough to pay more attention to moments that already exist in everyday life. Even a few minutes of conversation on the way to school can help a child feel heard and safe enough to share their concerns.
In addition to digital tools, installations shaped like car seats were placed across Almaty in shopping malls and at busy city intersections. As part of the initiative, an online platform with practical recommendations for parents was also developed together with child psychologists.
The platform includes materials on recognising signs of bullying, starting difficult conversations with children, and supporting them in challenging situations.
The campaign was followed by a roundtable discussion in Kazakhstan that brought together psychologists, parents, influencers, and representatives of the creative industry. Participants discussed why bullying often remains hidden, how teenage aggression is evolving and which communication approaches help build trust between adults and children.
A separate part of the discussion focused on how to talk to children about difficult emotions and experiences. According to psychologist Kseniya Lych, standard questions are often ineffective because children answer them automatically. Instead, prompts involving imagination and open-ended thinking tend to reduce tension and encourage dialogue.
The initiative received strong public attention and positive feedback from parents, psychologists and the professional community. As a result, inDrive is already planning to expand the campaign to other markets where it operates, adapting it to each country’s local context.
“We see that bullying is an equally painful issue across different countries and cultures. That is why we want to develop this initiative internationally and launch similar projects in other inDrive markets. For us, it is important not only to raise awareness about the problem, but also to help parents pay closer attention to their children’s emotional well-being and start conversations in time,” says Yevgeniy Gavrilchenko, co-author of the idea and Creative Lead at inLab by inDrive.
Auto
FRSC Condemns Attack on Traffic Enforcement Team by DSS Official
By Modupe Gbadeyanka
The Corps Marshal of the Federal Road Safety Corps (FRSC), Mr Shehu Mohammed, has kicked against an alleged violent attack on the traffic enforcement team of the organisation by a motorist, who was later identified as a security operative.
In a statement signed by the Deputy Corps Commander for Public Education, Mr Osondu Ohaeri, in Abuja on Friday, it was claimed that the motorist was suspected to be an official of the Department of State Services (DSS).
Narrating the incident in the statement, the FRSC said on Thursday, May 21, 2026, its officials flagged down a Toyota Carina driver for a suspected traffic violation at about 3:20 pm, but he refused to stop and proceeded dangerously until he was eventually held up by traffic close to the Command in Idu, Abuja.
“Upon approach by the patrol team for routine checks of vehicle and driver documents, the offender became hostile, verbally aggressive, and resisted lawful enforcement procedures.
“Despite several tactical and professional attempts by FRSC personnel to de-escalate the situation, the offender escalated the confrontation by physically advancing toward officers and later drawing a pistol, which he fired twice within the vicinity of the Command.
“In the face of imminent danger to lives and property, FRSC personnel acted with remarkable restraint, professionalism, and tactical discipline to swiftly disarm the assailant without loss of life. One Marshal sustained minor bruises during the process,” the statement narrated.
It was disclosed that the suspect was immediately handed over to the Nigeria Police Force at Life Camp Police Station alongside the firearm, ammunition components, and the vehicle involved, with the matter transferred to the appropriate State Command for further investigation.
In the statement, Mr Mohammed praised his men for the courage, professionalism, and maturity displayed by them, saying he’s impressed with how they resisted provocation and ensured that the situation did not degenerate into chaos, despite growing public outrage at the scene.
He further stated unequivocally that no individual, regardless of status, rank, or agency affiliation, is above the law, emphasising that security personnel are expected to lead by example through compliance with established traffic regulations and respect for constituted authority.
He called on all security agencies to continue strengthening inter-agency cooperation, mutual respect, and operational discipline in the collective interest of national security and public safety.
“Firearms and official status must never be used as instruments of intimidation against law enforcement officers carrying out legitimate duties,” he stressed.
-
Feature/OPED6 years agoDavos was Different this year
-
Travel/Tourism10 years ago
Lagos Seals Western Lodge Hotel In Ikorodu
-
Showbiz3 years agoEstranged Lover Releases Videos of Empress Njamah Bathing
-
Banking8 years agoSort Codes of GTBank Branches in Nigeria
-
Economy3 years agoSubsidy Removal: CNG at N130 Per Litre Cheaper Than Petrol—IPMAN
-
Banking3 years agoSort Codes of UBA Branches in Nigeria
-
Banking3 years agoFirst Bank Announces Planned Downtime
-
Sports3 years agoHighest Paid Nigerian Footballer – How Much Do Nigerian Footballers Earn
