Led by Nigerian serial entrepreneur Etop Ikpe, Autochek acquires CoinAfrique to accelerate its expansion in Francophone Africa

As part of the acquisition, the CoinAfrique team will join Autochek and support the mission to make car ownership more accessible and affordable across the continent. The recent acquisition of Moroccan KIFAL Auto will also position Autocheck to double down on its French-speaking approach to replicate the successes achieved in the English-speaking region of West and East Africa.

Founded in 2016 by Matthias Papet and Eric Genetre, CoinAfrique has become the leading classified ad marketplace for French-speaking Africa, enabling businesses and individuals to seamlessly buy and sell vehicles, electronics , real estate and other assets. The CoinAfrique app has been downloaded over 2 million times, with 800,000 monthly active users and 60,000 new listings per month. The website receives over 1.5 million visits per month.

Francophone Africa is home to many of the continent’s fastest growing economies and the fastest growing market for new cars – Côte d’Ivoire. It is also home to Senegal, which is expected to be Africa’s fastest growing economy by 2023.

According to Etop Ikpe, CEO and Co-Founder of Autochek, “Matthias and Eric are pioneers of the classifieds model in Africa, and they have built an exceptional platform with many meaningful partnerships with car dealerships, fintech platforms and other companies. other French-speaking automotive players. They join the Autochek family with many years of experience in business and infrastructure development across Europe and Africa, and we look forward to leveraging their expertise to improve the automotive finance value proposition across the continent.

Matthias Papet, CEO and Co-Founder of CoinAfrique, said, “We are excited about the opportunity to drive automotive finance penetration across Francophone Africa and support the broader mission across Africa. We see many opportunities to unlock value for users across all categories on our platform and to expand into new countries, and we look forward to leveraging the product and expertise of market-leading loans Autochek to deliver more transformative experiences for our users.”

CoinAfrique’s broader classifieds business will continue to operate across product categories, with deep integration of Autochek’s auto finance product to support access to credit for auto purchases.

With 50% of transactions made on the CoinAfrique platform in the automotive category, this acquisition will simplify the process for more French-speaking Africans to access financing and other value-added services for their vehicles.