Gozem Secures USD 30 M Series B To Expand Vehicle Financing & Super App Ecosystem

West African super app Gozem has raised USD 30 M in Series B funding, comprising USD 15 M in equity and USD 15 M in debt. The round was led by SAS Shipping Agencies Services (a subsidiary of MSC Group) and Al Mada Ventures, with funds earmarked for scaling its vehicle financing service and expanding into new markets.

Launched in Togo in 2018 as a ride-hailing platform, Gozem has since grown into a multi-service ecosystem spanning Togo, Benin, Gabon, and Cameroon. It offers ride-hailing, vehicle financing, commerce, and digital banking, positioning itself as a key player in Francophone Africa’s digital economy.

Gozem’s vehicle financing model allows drivers to acquire motorcycles, three-wheelers, and cars through instalment payments deducted from their daily earnings, removing the need for large upfront deposits. The company, which initially piloted the model in 2021 with 1,500 financed vehicles, now finances around 7,000 vehicles, partnering with banks, international lenders, and the International Finance Corporation (IFC).

Co-founder Gregory Costamagna emphasized that Gozem’s primary focus is on professional drivers, ensuring financial security and career progression. “If they’re successful, our entire business is successful,” he stated.

Gozem has also ventured into digital banking with Gozem Money, following its 2023 acquisition of Moneex. The service, currently live in Togo, enables mobile payments and processes millions of dollars daily.

With 10,000 registered drivers and over a million users, Gozem is preparing for rapid growth, aiming to triple or quadruple its revenue in 2025. The company plans to raise an additional USD 20 M to support its expansion across Francophone Africa in the next two years.