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.
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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.
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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.
“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.
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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.