Gozem nets $30M to expand vehicle financing, digital banking in Francophone Africa

Since its launch in 2018 as a ride-hailing service in Togo, Gozem has steadily expanded across French-speaking West Africa, integrating a wide range of services as it sought to become a super-app. The company now offers ride-hailing, commerce, vehicle financing, and digital banking across Togo, Benin, Gabon, and Cameroon. Now, in a bid to scale its ecosystem, Gozem has raised $30 million in a Series B funding round — $15 million in equity and $15 million in debt — led by SAS Shipping Agencies Services and Al Mada Ventures. The company will use the funds to bolster its vehicle financing service, and foray into new markets. According to the startup’s founders Gregory Costamagna and Raphael Dana, Gozem sets itself apart from other ride-hailing and vehicle financing platforms by making sure its drivers are financially secure and can access career growth opportunities. Gozem’s ride-hailing service covers motorcycles, three-wheelers and cars, while its vehicle financing product is aimed a ... Read full article.