Gozem, a groundbreaking super app, is reshaping the digital landscape in Francophone Africa. Combining ride-hailing, e-commerce, vehicle financing, and digital banking under one platform, the company has positioned itself as an essential part of daily life for its users. With its innovative approach to embedded finance, Gozem is empowering communities by addressing real-world challenges through technology.
The recent $30 million Series B funding round, comprised of equity and debt, marks a pivotal moment in Gozem’s journey. Backed by two strategic investors, MSC Group, one of the largest global shipping companies, and Al Mada Ventures, the venture arm of Al Mada Group, this investment provides the company with the resources to expand its footprint and strengthen its infrastructure.
The company’s presence spans Togo, Benin, Gabon, Cameroon, and now Congo Brazzaville. Plans are underway to launch in Brazzaville and Pointe-Noire, bringing the app’s solutions to a fifth market and 17 cities across the region. With the CFA franc pegged to the Euro, Gozem’s operations are strategically located in countries poised for fintech innovation.
At the heart of Gozem’s model is its ability to leverage embedded finance. Originally a ride-hailing platform, Gozem identified significant gaps in vehicle financing for its drivers and developed a dedicated arm for loans in collaboration with IFC and other financial institutions. Similarly, its e-commerce platform and mobile payment services have given rise to Gozem Money, a digital banking solution now rolling out in West Africa.
The recent funding round is not just a financial milestone; it reflects Gozem’s capacity to attract global investment and recognition. Events like AFSIC – Investing in Africa have played a crucial role, offering a unique space for networking and building lasting partnerships with major investors, DFIs, private equity funds, and investment banks. During AFSIC 2024, Gozem’s leadership held meaningful conversations that facilitated this funding success and laid the groundwork for future rounds.
With its sights set on expanding into new markets, enhancing technology, and financing more vehicles for drivers, Gozem is set to lead Africa’s digital transformation. By bridging the gap between innovation and inclusivity, the company is not only creating economic opportunities but also shaping the continent’s future.