Gozem, a leading super app in Francophone Africa, has raised $30 million in Series B funding to scale its vehicle financing and digital banking services across the region. The investment, a mix of equity and debt, was led by SAS Shipping Agencies Services Sàrl, a subsidiary of MSC Mediterranean Shipping Company SA, and Al Mada Ventures.
The fresh capital will enable Gozem to provide more affordable vehicle financing options, empowering drivers with easier ownership opportunities while improving livelihoods. The company also plans to expand into new markets, leveraging its partnerships with key investors like MSC Group and Al Mada Ventures to accelerate its growth and service diversification.
Launched in 2018 in Togo as a motorcycle-taxi service, Gozem has since evolved into a multifaceted super app operating in Togo, Benin, Gabon, and Cameroon. Its platform now offers a wide range of services, including ride-hailing for motorcycles, tricycles, and cars, as well as food and grocery deliveries.
With this new funding, Gozem aims to finance more vehicles for its drivers, enhance customer experiences, and strengthen its fintech ecosystem. Users can perform various financial transactions through the app, including bill payments, in-app purchases, and peer-to-peer money transfers. Gozem’s fintech ambitions were bolstered by its 2023 acquisition of Moneex, a Beninese electronic payments startup, which has accelerated its expansion into West Africa’s financial market.
Vehicle financing has been a key part of Gozem’s strategy to support driver-partners. In 2022, the company secured a $10 million investment from the International Finance Corporation (IFC) to provide affordable vehicle leasing in Togo and Benin. This initiative enabled Gozem to lease nearly 1,500 vehicles within the first eight months of its program, with plans to lease over 200,000 vehicles in the next three years.
The latest $30 million funding round underscores investor confidence in Gozem’s growth trajectory. Omar Laalej, Managing Director at Al Mada Ventures, praised Gozem’s inclusive and user-friendly super app model, expressing excitement about supporting its expansion.
As Gozem continues to scale its services and geographic footprint, it remains focused on leveraging technology to offer simple, safe, and reliable solutions tailored to Africa’s unique market challenges. With fresh capital and strategic partnerships, Gozem is poised to strengthen its position as Africa’s leading super app, driving innovation and financial inclusion across the continent.
