{"id":585477,"date":"2023-04-19T00:00:00","date_gmt":"2023-04-19T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/nigerias-autochek-acquires-majority-stake-in-local-startup-autotager\/"},"modified":"2023-04-19T00:00:00","modified_gmt":"2023-04-19T00:00:00","slug":"nigerias-autochek-acquires-majority-stake-in-local-startup-autotager","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2023\/04\/19\/nigerias-autochek-acquires-majority-stake-in-local-startup-autotager\/","title":{"rendered":"Nigeria\u2019s Autochek acquires majority stake in local startup AutoTager"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">Nigeria-based car financing platform <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/autochek.africa\/ng\/about-us\" style=\"\">Autochek<\/a><\/span><span style=\"font-weight:700\"> has acquired a <\/span><span style=\"font-weight:700\">majority stake<\/span><span style=\"font-weight:700\"> in <\/span><span style=\"font-weight:700\">local automotive startup <\/span><span style=\"-webkit-text-decoration-skip:none;font-weight:700;text-decoration-skip-ink:none\"><a href=\"https:\/\/www.autotager.com\/en\/about\" style=\"\">AutoTager<\/a><\/span><span style=\"\">, it said in a <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/www.wamda.com\/2023\/04\/nigreria-based-autochek-acquires-majority-stake-egypts-autotager\" style=\"\">press release<\/a><\/span><span style=\"font-weight:400;\"> yesterday. The value of the transaction was not disclosed.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">What is AutoTager?<\/span><span style=\"\"> Established in 2021 by Amr Rezk (<\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/linkedin.com\/in\/amr-r-0457341\" style=\"\">LinkedIn<\/a><\/span><span style=\"font-weight:400;\">), AutoTager is a digital platform that allows people to sell their cars and access finance to buy new ones.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">This is Autochek\u2019s first step into Egypt and second in the region:<\/span><span style=\"\"> The company entered North Africa last year after <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/techcrunch.com\/2022\/05\/18\/autochek-expands-to-north-africa-after-acquiring-moroccos-kifal-auto\/\" style=\"\">acquiring<\/a><\/span><span style=\"\"> Moroccan online car marketplace <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/kifal-auto.ma\/\" style=\"\">Kifal Auto<\/a><\/span><span style=\"font-weight:400;\">. It is now active in nine countries across East, West and North Africa and has closed six acquisitions in the past two years.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is Autochek\u2019s sixth acquisition in the past two years and second in North Africa<\/p>\n","protected":false},"author":1,"featured_media":585478,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7258],"tags":[7005,144,7006,72,95],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-585477","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-startup-watch","tag-autochek","tag-automotive","tag-autotager","tag-enterpriseam","tag-startup-watch","wpautop","entry"],"acf":{"mongo_id":"4c42d046-3896-410c-8a9b-dc11a4c57ba6","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/4\/733.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Nigeria\u2019s Autochek acquires majority stake in Egyptian automotive startup AutoTager","related_issue":[585464],"teaser":"This is Autochek\u2019s sixth acquisition in the past two years and second in North Africa","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/4\/.db9355b1-5507-4c77-bd13-049892ca43c7.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The companies didn\u2019t disclose the size of the stake or how much ECC invested in the business.About the company: Launched in 2018, Source Beauty is\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":549559,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/09\/21\/ecc-paid-usd-5-mn-for-majority-stake-in-source-beauty\/","url_meta":{"origin":585477,"position":2},"title":"ECC paid USD 5 mn for majority stake in Source Beauty","author":"enterpriseam admin","date":"21 September 2022","format":false,"excerpt":"UPDATE- ECC reveals the price tag on its newly acquired stake in Source Beauty: Egyptian Company for Cosmetics (ECC) invested USD 5 mn to acquire a majority stake through capital increase in local online beauty store Source Beauty, according to a joint press release (pdf) yesterday. The two companies first\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/9\/302.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577853,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/12\/07\/saudi-auto-startup-morni-is-on-the-lookout-for-egyptian-acquisitions\/","url_meta":{"origin":585477,"position":3},"title":"Saudi auto startup Morni is on the lookout for Egyptian acquisitions.","author":"enterpriseam admin","date":"7 December 2022","format":false,"excerpt":"Saudi Arabia\u2019s Morni is eyeing acquisitions in Egypt: Saudi roadside assistance and automotive service provider Morni is looking to debut in the Egyptian market by acquiring local firms, and has hired Exits as its buy-side advisor, according to a statement(pdf) out yesterday. The startup plans to invest USD 10 mn\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/12\/128.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":613498,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/01\/16\/ezdehar-acquires-minority-stake-in-local-pharma-delivery-startup-yodawy-with-usd-10-mn-investment\/","url_meta":{"origin":585477,"position":4},"title":"Ezdehar acquires minority stake in local pharma delivery startup Yodawy with USD 10 mn investment","author":"enterpriseam admin","date":"16 January 2024","format":false,"excerpt":"The investment will help Yodawy grow through expanding its client base and tech-enabled prescription capabilities","rel":"","context":"In &quot;Investment Watch&quot;","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/1\/1045.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":575290,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/10\/11\/disruptech-to-acquire-minority-stake-in-unnamed-fintech-startup-for-usd-500k\/","url_meta":{"origin":585477,"position":5},"title":"Disruptech to acquire minority stake in unnamed fintech startup for USD 500k","author":"enterpriseam admin","date":"11 October 2020","format":false,"excerpt":"STARTUP WATCH- Disruptech to acquire minority stake in unnamed fintech startup: Former Fawry CEO Mohamed Okasha\u2019s USD 25 mn fintech fund, Disruptech, will soon add a fourth startup to its portfolio year after closing a USD 500k investment in an unnamed fintech company by the end of October, Okasha told\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585477","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=585477"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/585477\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/585464"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/585478"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=585477"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=585477"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=585477"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=585477"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=585477"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}