Gozem Gets $30M for Vehicle Financing, Expansion in Francophone Africa
TLDR
- Gozem, a ride-hailing and fintech platform in French-speaking West Africa, raised $30 million
- The funding will support vehicle financing and expansion into new markets
- It plans to raise an additional $20 million to further expand in Francophone Africa
Gozem, a ride-hailing and fintech platform operating in French-speaking West Africa, has raised $30 million in a Series B round—$15 million in equity and $15 million in debt—led by SAS Shipping Agencies Services and Al Mada Ventures. The funding will support vehicle financing and expansion into new markets.
Launched in 2018 as a ride-hailing service in Togo, Gozem has evolved into a super app offering mobility, e-commerce, vehicle financing, and digital banking across Togo, Benin, Gabon, and Cameroon. The company focuses on professional drivers, helping them access financing to buy motorcycles, three-wheelers, and cars, with repayments deducted from daily earnings.
With nearly 10,000 registered drivers and over a million users, Gozem plans to raise an additional $20 million to further expand in Francophone Africa. The company has also entered digital banking with Gozem Money, following its 2023 acquisition of Moneex.
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Key Takeaways
Gozem’s strategy aligns with Southeast Asian ride-hailing and fintech giants like Grab and Gojek, integrating multiple services into a single platform. Unlike some African super app attempts, Gozem has found success by focusing on mobility and financing as core growth drivers. Vehicle financing remains a major competitive play, with rivals like Uber-backed Moove and Asaak offering similar models. However, Gozem’s ecosystem approach—expanding into e-commerce, digital payments, and ticketing—could strengthen customer retention. The backing from MSC Group’s SAS Shipping Agencies and Al Mada Ventures signals investor confidence in Gozem’s model. If the company meets its growth targets, it could emerge as a leading super app in Francophone Africa’s mobility and fintech sector.
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