Togo-based Gozem raises $30m to drive vehicle financing across francophone Africa

IMG 9368

On Wednesday, Gozem, a leading super app in Francophone Africa, announced that it has secured $30 million in Series B funding. 

This investment, a combination of equity and debt, was led by SAS Shipping Agencies Services Sàrl, a MSC Mediterranean Shipping Company SA subsidiary, and Al Mada Ventures. The funds will bolster vehicle financing and digital banking services across the region.

Read also: Africa Fintech Network, Rwanda Finance Ltd partner to drive fintech growth across Africa

Gozem boosts vehicle financing and service improvements

Gozem launched in Togo in 2018 as a moto-taxi service, has evolved into a multifaceted super app offering ride-hailing, food and grocery deliveries, digital ticketing, vehicle financing, and digital banking across Togo, Benin, Gabon, and Cameroon.

The new funding will enable Gozem to provide drivers with more affordable vehicle financing options, facilitating ownership and improving livelihoods. This initiative follows Gozem’s 2022 partnership with the International Finance Corporation (IFC), which secured a $10 million investment for vehicle financing in Togo and Benin.

Related Post:  Daily sales hit 10,000 as fintech unicorn thrives in Senegal's e-ticketing

“We are thrilled to welcome MSC Group and Al Mada Ventures as strategic investors. Their extensive experience in African logistics and financial services will be invaluable in scaling our super app and expanding into new markets. Having such industry leaders support Gozem is a strong validation of our vision,” said Gregory Costamagna and Raphael Dana, co-Founders of Gozem. 

 The company plans to lease over 200,000 vehicles in the next three years, building on its success of leasing close to 1,500 vehicles in the first eight months of its vehicle leasing program.

Related Post:  Jollof+ offers up to 21.6% interest to help Nigerians save smarter

Read also: Ghana and Rwanda collaborate on Africa’s first license passporting framework

Gozem launches Gozem Money, a digital bank for francophone Africa

A key focus for Gozem is launching its digital bank, Gozem Money, which aims to provide accessible and affordable financial services to individuals and businesses in Francophone Africa. 

This initiative will leverage Gozem’s existing user base and technology infrastructure to offer a seamless banking experience, including mobile payments, savings, and investment products.

“Gozem is an exceptional company that aligns perfectly with MSC Group’s dedication to Africa and its focus on developing innovative mobility and logistics solutions to boost trade,” said Diego Aponte, MSC Group President. 

With this funding, Gozem will expand further across West and Central Africa, enhancing its transport services and accelerating the launch of Gozem Money.

Modupeoluwa Olalere

Modupeoluwa Olalere, a tech enthusiast with 4+ years of experience simplifying tech stories and making complex ideas easy to understand.

Next Post

AI showdown: will ChatGPT 4o or Grok 3 dominate in 2025?

Thu Feb 27 , 2025
       The race to dominate the artificial intelligence landscape intensified in 2025, pitting OpenAI’s ChatGPT 4o against xAI’s Grok 3 in […]
AI showdown: will ChatGPT 4o or Grok 3 dominate in 2025?

Related Posts

Quick Links

techpression.com
Privacy Overview

This website uses cookies so that we can provide you with the best user experience possible. Cookie information is stored in your browser and performs functions such as recognising you when you return to our website and helping our team to understand which sections of the website you find most interesting and useful.