Autocheck Acquires Majority Stake In AutoTager
This marks Autocheck’s third acquisition in less than a year and the sixth in less than two, demonstrating the company’s ascent to the top position in Pan-African automotive technology.
Autocheck has announced the acquisition of a majority stake in Egypt’s used car marketplace, AutoTager.
Olajide Adamolekun, Group CFO and co-founder of AutoCheck, confirmed the development in a press release. AutoTager, founded in 2021 by Amr Rezk, is a venture-backed startup that claims to be removing the friction from Egypt’s car buying and selling process.
Amr Rezk is a successful serial entrepreneur who developed and co-founded many successful businesses, including Fundseer, a top platform for GP/LP coordination in private equity.
According to reports, the acquisition will allow Autocheck to deepen its presence in North Africa and support its ongoing growth.
“Amr’s background and track record is as impressive as it gets, and I am delighted to have him on board. His experience will be invaluable as we enter the Egyptian market and continue on our mission to improve the automotive finance value proposition on the continent and catalyze more growth across the automotive ecosystem,” the Group CFO stated.
This acquisition marks Autochek’s third in less than a year and sixth in less than two, demonstrating the company’s ascent to the top position in Pan-African automotive technology.