GoCab Raises USD 45 M To Scale ‘Ethical’ Mobility Financing In Africa

GoCab, a pan-African mobility and financial services platform founded in 2024 by Azamat Sultan and Hendrick Ketchemen, has closed a USD 45 M financing round to scale ‘ethical’ vehicle financing for gig-economy workers.

The round comprises USD 15 M in equity and USD 30 M in debt, with the equity co-led by E3 Capital and JANNGO Capital, alongside KawiSafi Ventures and Cur8 Capital. The company has also secured over USD 30 M in debt commitments as part of a broader USD 60 M Shariah-compliant facility under structuring.

GoCab enables drivers and couriers to access vehicles through structured ownership pathways, combining mobility, technology, and inclusive finance.

Operating across five African markets, the company claims it has surpassed USD 17 M in ARR within 18 months and plans to expand geographically, grow its electric vehicle fleet, and deploy AI-driven credit scoring and fleet optimisation tools.