Togo-based ride-hailing and fintech platform Gozem has secured $30 million in Series B funding, led by SAS Shipping Agencies Services (part of MSC Group) and Al Mada Ventures.
The round includes $15 million in equity and $15 million in debt to fuel its vehicle financing and market expansion.
Why it matters
Gozem is positioning itself as a super app for professional drivers in Francophone West Africa, bundling ride-hailing, vehicle financing, and digital banking. With this fresh capital, it aims to triple or quadruple growth in 2025.
The big picture
- Gozem started as a ride-hailing service in 2018 but has since expanded into commerce, vehicle financing, and digital banking across Togo, Benin, Gabon, and Cameroon.
- The company helps its drivers buy motorcycles, three-wheelers, and cars through a financing model that deducts small amounts from their daily earnings.
- 10,000+ drivers and over a million users are on its platform.
What they’re saying
“Our main client is the professional driver. We build an ecosystem to help drivers earn more money and evolve in their lives. If they’re successful, our entire business is successful,” said co-founder Gregory Costamagna.
Between the lines
- The debt portion of the funding is largely structured for Gozem’s vehicle financing service.
- The company also recently moved into digital banking by acquiring Moneex in 2023, launching Gozem Money for mobile payments.
- Competitors like Moove, Asaak, and MAX also provide vehicle financing in Africa, but Gozem takes cues from Grab and Gojek in Southeast Asia by integrating ride-hailing, fintech, and e-commerce.
What’s next
- Gozem is looking to raise another $20 million to support expansion over the next two years.
- The company expects massive growth in 2025, backed by industrial and financial services investors operating in its markets.
Source: TechNext24
