E-Business
Autochek Secures $13.1mn Seed Funding to Scale its Technology, Accelerate Expansion

Autochek, the automotive technology company facilitating auto financing across Africa, has today secured $13.1mn 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 preempted 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, East Africa’s leading online auto marketplace. As part of the investment by Mobility54, Autochek will be leveraging Toyota Tsusho’s vast retail network across 46 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 now partnered with 70 banks across the continent including leading regional players such as Access Bank, Ecobank, UBA, Bank of Africa and NCBA Bank.
The startup has also achieved several key milestones since the start of the year 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 it’s truck financing platform and more recently financing of brand new vehicles.
Speaking on the next phase of Autochek’s rapid growth following its fundraise, 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 make an impact in 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.”
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.”
Walter Baddoo, Managing Partner at 4DX Ventures, says, “Autochek is revolutionising the auto industry in Africa by offering the convenience and selection advantage of an auto e-commerce platform together with the added flexibility of financing.
We have enjoyed working with the team so far, and they have demonstrated the talent, ambition, and domain expertise needed to build a complete end-to-end car ownership experience for customers. We are excited to partner with the team as they pursue the next phase of their growth.”
Despite being a $45bn industry, Africa’s used car market only has a 5% financing penetration rate, marking a major contrast to the rates of 98% and 99% in Europe and the USA respectively.
Due to a lack of transparency from the automotive sector, there is no way for lenders to understand the present and residual value of vehicles, creating a significant reluctance to issue loans.
However, with Autochek’s established links with car dealerships and 150-point inspection and valuation reports, the company can access vital information on the quality and condition of a range of vehicles, providing lenders with the much-needed trust and transparency to make informed decisions.
Based on its algorithms, Autochek is also able to develop a credit profile on behalf of customers and effectively reduce a loan application process from 40-45 days to 48 hours.
E-Business
Nigerian Terra Industries Secures $11.8m for Expansion

Terra Industries, a Nigerian defence technology startup, has raised $11.75 million to expand its development of defensive systems that protect critical facilities across Africa.

The fundraising round was led by Silicon Valley venture firm 8VC, which was founded by Palantir co-founder Joe Lonsdale.
Other investors in the round include Valour Equity Partners, Lux Capital, SV Angel, and Nova Global, as well as African-focused funds Tofino Capital, Kaleo Ventures, and DFS Lab.
Terra Industries, founded in Abuja by Nathan Nwachuku and Maxwell Maduka, provides multi-domain security solutions for both air and land. Its solutions are intended to detect and respond to threats including terrorism, sabotage, and armed attacks on infrastructure.
The company’s product portfolio includes surveillance drones, ground-based robotic systems, and fixed monitoring towers deployed around sensitive locations.
Co-founder and CEO Nathan Nwachuku said the company has now fully embraced its identity as a defence-focused startup, citing the growing urgency of security challenges across Africa.
He said safeguarding critical infrastructure from terrorist threats has become unavoidable.
Nwachuku argues that protecting Africa’s infrastructure requires a different approach, one that combines local manufacturing, end-to-end system control, and software capable of independently identifying and responding to threats over large areas.
The company aims to position itself as a defence prime, similar to the role played by firms such as Anduril Industries and Palantir in the United States.
Nwachuku also disclosed that the company had earlier raised $800,000 in pre-seed funding.
With the new funding, Terra plans to increase manufacturing capacity within Africa, establish additional defence production facilities, and expand its artificial intelligence and software teams.
While software offices are planned for San Francisco and London, the company said manufacturing operations will remain on the continent.
E-Business
Kaspersky Warns Telecom Threats from 2025 will Carry into 2026 as New Technology Adds New Risk

Kaspersky Security Bulletin reviews what shaped telecom cybersecurity in 2025 and what is likely to persist in 2026. Advanced Persistent Threat (APT) activity, supply-chain compromise, DDoS disruption and SIM-enabled fraud continued to pressure operators in 2025, while newer technology deployments introduce additional operational risk.

In 2025, telecom operators faced four broad threat categories. Targeted intrusions (APTs) continued to focus on gaining stealthy access to operator environments for long-term espionage and leverage through privileged network positioning.
Supply chain vulnerabilities remained an entry point: telecom ecosystems rely on many vendors, contractors and tightly integrated platforms, so weaknesses in widely used software and services can provide a path into operator networks. Finally, DDoS remained a practical availability and capacity problem.
Kaspersky Security Network showed that last year, between November 2024 and October 2025, 12,79% of users in the telecommunications sector encountered web threats and 20,76% faced on-device threats. 9,86% of telecom organisations worldwide experienced ransomware.
At the same time, the telecommunications sector is moving from rapid technological development to broad implementation — and the report argues that this shift creates new opportunities and new operational risks for 2026.
Kaspersky highlights three areas where technology transitions could introduce disruption if rolled out unevenly or without strong controls: AI-assisted network management, where automation can amplify configuration errors or act on misleading data; post-quantum cryptography transitions, where rushed deployment of hybrid and post-quantum approaches could cause interoperability and performance issues across IT, management and interconnect environments; and 5G-to-satellite integration (NTN), where expanding service footprints and partner dependencies introduce new integration points and potential failure modes.
“The threats that dominated 2025 — APT campaigns, supply chain attacks, DDoS floods — aren’t going away. But now they intersect with operational risks from AI automation, quantum-ready cryptography, and satellite integration.
Telecom operators need visibility across both dimensions: maintaining strong defences against known threats while building security into these new technologies from day one. The key is continuous threat intelligence that spans from endpoint to edge to orbit,” said Leonid Bezvershenko, senior security researcher at Kaspersky Global Research & Analysis Team.
E-Business
Study Reveals 88.5% of Phishing Attacks Focus on Stealing Account Credentials

Kaspersky analysed phishing and scam campaigns observed from January through September 2025 and found that 88.5% of attacks globally sought credentials for various online accounts.

Another 9.5% targeted personal data such as names, addresses, and dates of birth, while 2% focused on bank card details.
According to data from Kaspersky, over 38 million phishing links were clicked in Africa in the previous year (from November 2024 to October 2025) – all of which were detected and blocked by Kaspersky solutions.
Not everyone uses protective solutions on their devices however, and phishing remains one of the most prevalent cyber threats, with attackers luring users to fake websites where they unwittingly surrender their login credentials, personal information, or bank card details.
Kaspersky research shows that most phishing pages transmit stolen information via email, Telegram bots, or attacker-controlled panels, before it enters underground resale channels.
Data stolen through phishing is rarely used only once: credentials from multiple campaigns are consolidated into data dumps and sold on dark web markets, in some cases for as little as $50. Buyers sort and verify the data to check whether accounts remain active and reusable across different services.
According to Kaspersky Digital Footprint Intelligence, average 2025 prices ranged from $0.90 for global Internet portals to $105 for crypto platforms and $350 for online banking access. Personal documents such as passports or ID cards sold for about $15 on average, with pricing influenced by account age, balance, linked payment methods, and security settings.
As datasets are enriched and combined, attackers can build detailed digital profiles that may later support targeted attacks on executives, finance staff, IT-administrators or individuals with valuable assets or personal documents.
“Our analysis shows that credentials account for nearly 90% of phishing attempts. Once collected, logins, passwords, phone numbers, and personal details are aggregated, checked, and resold, sometimes years after the initial theft.
Combined with new information, even old credentials can enable account takeovers and targeted attacks against both individuals and organisations.
By leveraging open-source intelligence and old breach data, attackers can craft highly personalised scams, turning one-time victims into long-term targets for identity theft, blackmail, or financial fraud,” said Olga Altukhova, senior web content analyst at Kaspersky.
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