Gozem Expansion in West Africa: A Super-App Vision
Since its inception in 2018, Gozem has transformed from a simple ride-hailing service in Togo into a burgeoning super-app, expanding its footprint across French-speaking West Africa. With a diverse portfolio that includes ride-hailing, vehicle financing, and digital banking, Gozem is not just redefining mobility but is also enhancing the livelihoods of drivers through innovative financial solutions. Recently, the company secured $30 million in Series B funding to bolster its vehicle financing services and fuel its ambitions for regional expansion. This growth story highlights Gozem’s commitment to empowering professional drivers while navigating the competitive landscape of fintech and mobility.
| Aspect | Details |
|---|---|
| Launch Year | 2018 |
| Key Services | Ride-hailing, commerce, vehicle financing, digital banking |
| Countries Operated | Togo, Benin, Gabon, Cameroon |
| Funding Raised | $30 million in Series B funding |
| Funding Breakdown | $15 million equity, $15 million debt |
| Major Investors | SAS Shipping Agencies Services, Al Mada Ventures |
| Registered Drivers | Nearly 10,000 |
| Monthly Users | Hundreds of thousands |
| Vehicles Financed | Around 7,000 vehicles |
| Digital Ticketing | Processed over 50,000 tickets in Togo |
| Digital Banking Service | Gozem Money, operational in Togo |
| Gross Merchandise Value | $50 million run-rate |
| Future Growth Expectation | Tripling or quadrupling by 2025 |
| Expansion Plans | Aiming to raise another $20 million for further expansion |
The Rise of Gozem: An Overview
Gozem started as a simple ride-hailing service in Togo in 2018 and has quickly grown into a major player in West Africa. By expanding its services to include not just rides, but also vehicle financing and digital banking, Gozem is on a mission to become a super-app. With operations in countries like Benin, Gabon, and Cameroon, they are making it easier for people to access various services all in one place.
By raising $30 million in a Series B funding round, Gozem shows that investors believe in their vision. This funding will help them improve their vehicle financing services and explore new markets. The company’s founders, Gregory Costamagna and Raphael Dana, emphasize that their goal is to create opportunities for drivers while making their business successful.
Frequently Asked Questions
What is Gozem?
Gozem is a ride-hailing service that started in Togo in 2018 and has expanded to provide various services like vehicle financing and digital banking in French-speaking West Africa.
How does Gozem support its drivers?
Gozem helps drivers by offering vehicle financing options, ensuring financial stability, and providing opportunities for career advancement, making it easier for them to earn a living.
What types of vehicles can drivers use with Gozem?
Gozem’s ride-hailing service supports motorcycles, three-wheelers, and cars, allowing drivers to choose the best option for their needs.
How does Gozem’s vehicle financing work?
Gozem finances vehicles through a combination of debt and equity, allowing drivers to pay in installments and recouping costs through small deductions from their earnings.
What new services has Gozem launched?
Gozem has added digital banking services and ticket sales for events, expanding its offerings beyond ride-hailing and vehicle financing.
How much funding has Gozem raised?
Gozem raised $30 million in a Series B funding round, which will enhance its services and support expansion in new markets across Africa.
How many users and drivers does Gozem have?
Gozem currently has nearly 10,000 registered drivers and over a million users who have used its platform, highlighting its growing popularity.
Summary
Gozem, launched in 2018 as a ride-hailing service in Togo, has rapidly grown into a super-app across French-speaking West Africa, offering services like ride-hailing, vehicle financing, and digital banking in countries such as Benin and Cameroon. Recently, Gozem raised $30 million to enhance its vehicle financing and expand into new markets. The founders focus on supporting drivers by ensuring they can purchase their vehicles and improve their earnings. With nearly 10,000 drivers and over 1 million users, Gozem is also exploring digital banking and ticketing, aiming for significant growth by 2025.