Gozem, a leading super app in Francophone Africa, has raised $30 million in Series B funding to strengthen its vehicle financing and digital banking services across the region.
This funding round, consisting of both equity and debt, was spearheaded by SAS Shipping Agencies Services Sàrl, a subsidiary of MSC Mediterranean Shipping Company SA, alongside Al Mada Ventures. The capital injection will allow Gozem to offer more affordable vehicle financing options, empowering drivers with easier access to vehicle ownership and improved financial stability. Additionally, Gozem plans to expand into new markets, leveraging its partnerships with major investors to scale its operations and diversify its services.
Since its launch in 2018 in Togo, Gozem has transitioned from a motorcycle-taxi service into a full-fledged super app operating in Togo, Benin, Gabon, and Cameroon. The platform now provides a variety of services, including ride-hailing for motorcycles, tricycles, and cars, as well as food and grocery delivery.
With this latest funding, Gozem is set to enhance its vehicle leasing program, improve customer experience, and further develop its fintech ecosystem. Users can already perform various financial transactions through the app, such as bill payments, peer-to-peer money transfers, and purchases within and beyond Gozem’s platform. The company accelerated its fintech expansion following the 2023 acquisition of Moneex, a Beninese fintech startup specializing in electronic payments.
Vehicle financing remains a key pillar of Gozem’s strategy to support its driver-partners. In 2022, Gozem secured a $10 million investment from the International Finance Corporation (IFC) to facilitate affordable vehicle financing in Togo and Benin. This initiative helped the company lease nearly 1,500 vehicles in the first eight months of its vehicle leasing program, with an ambitious goal of financing over 200,000 vehicles within three years.
The $30 million Series B round reflects strong investor confidence in Gozem’s mission and growth potential. Omar Laalej, Managing Director at Al Mada Ventures, commended Gozem’s inclusive super app model and expressed enthusiasm about supporting its expansion.
As Gozem scales its operations and enters new markets, it remains committed to leveraging technology to provide safe, seamless, and innovative financial and mobility solutions. With fresh capital and strategic partnerships, Gozem is well-positioned to strengthen its presence as Africa’s leading super app, driving digital transformation and financial inclusion across the continent.
