Since its inception in 2018, Gozem has rapidly grown from a ride-hailing service in Togo to a comprehensive super-app across French-speaking West Africa. The company now offers a wide array of services including ride-hailing, commerce, vehicle financing, and digital banking in countries such as Togo, Benin, Gabon, and Cameroon. Recently, Gozem secured $30 million in Series B funding, split evenly between equity and debt. This investment, led by SAS Shipping Agencies Services and Al Mada Ventures, will be used to enhance its vehicle financing services and expand into new markets. Gozem's unique approach focuses on ensuring financial security and career growth for its drivers, distinguishing it from competitors.
Rapid Expansion and Strategic Investments
In the heart of French-speaking West Africa, Gozem has been steadily transforming the mobility and financial landscape since its launch in 2018. Initially providing ride-hailing services in Togo, the company has expanded its footprint to include Benin, Gabon, and Cameroon. Gozem's platform now supports various modes of transportation, including motorcycles, three-wheelers, and cars, while also offering vehicle financing to help drivers purchase vehicles through affordable installment plans.
The recent $30 million Series B funding round marks a significant milestone for Gozem. Led by SAS Shipping Agencies Services and Al Mada Ventures, this capital injection includes both equity and debt components. The funds will primarily bolster Gozem's vehicle financing services, which have already facilitated the acquisition of around 7,000 vehicles for drivers. Additionally, the company aims to explore new markets and continue its rapid expansion across Francophone Africa.
Gozem's founders, Gregory Costamagna and Raphael Dana, emphasize the importance of supporting professional drivers. By building an ecosystem that helps drivers earn more and advance their careers, Gozem ensures the success of its entire business model. The company's vehicle financing program allows drivers to gradually upgrade from motorcycles to cars, ultimately becoming full vehicle owners. This long-term strategy sets Gozem apart from other platforms and attracts a loyal driver base.
Beyond its core services, Gozem has ventured into digital ticketing and banking. The company resells event tickets and processes millions of dollars daily through its mobile payment service, Gozem Money. With nearly 10,000 registered drivers and over a million users, Gozem is well-positioned to capitalize on its diverse offerings and achieve substantial growth in the coming years.
The Series B funding not only validates Gozem's innovative model but also underscores the confidence of industrial and financial investors operating in the same markets. As Gozem looks to triple or quadruple its growth by 2025, the company is poised to become a leading force in the African tech ecosystem.
From a journalist's perspective, Gozem's success story highlights the potential of tailored solutions in emerging markets. By focusing on the specific needs of professional drivers and integrating multiple services under one platform, Gozem demonstrates how addressing local challenges can lead to scalable and sustainable business models. This approach could serve as a blueprint for other startups aiming to thrive in similar environments.