Gozem Togo has successfully raised $30 million in a Series B funding round to boost its vehicle financing operations and expand its ride-hailing and fintech services across Francophone Africa. The funding comprises $15 million in equity and $15 million in debt, with leading investments from SAS Shipping Agencies Services and Al Mada Ventures.
Strengthening Vehicle Financing in Togo
With this capital, Gozem Togo aims to enhance its vehicle financing segment, enabling professional drivers to access motorcycles, three-wheelers, and cars through structured installment plans. This initiative reduces financial barriers for thousands of drivers who previously struggled to own a vehicle.
By utilizing a combination of equity and debt, Gozem Togo purchases vehicles and offers drivers flexible repayment options deducted from daily earnings. This model ensures affordability and supports drivers in achieving long-term financial stability.
Expanding the Super-App Ecosystem
Beyond vehicle financing, Gozem Togo plans to allocate a portion of its new funds to expand its super-app, which integrates:
- Ride-hailing services
- E-commerce solutions
- Digital financial services
The company is also actively exploring expansion into additional Francophone African countries over the next two years, with discussions underway to secure another $20 million in funding.
Why Investors Are Supporting Gozem Togo
Investors see Gozem Togo as a strong player in Africa’s mobility and fintech sectors for several reasons:
1. Proven Success in Vehicle Financing
Having financed over 7,000 vehicles since 2021, Gozem Togo has demonstrated the viability of its vehicle financing model. The company’s partnerships with international lenders and the International Finance Corporation (IFC) further enhance its credibility.
2. Strategic Investor Partnerships
SAS Shipping Agencies Services and Al Mada Ventures align with Gozem Togo’s mobility and financial service goals, supporting long-term business growth.
3. Addressing an Underserved Market
Francophone Africa remains a largely untapped market for ride-hailing and vehicle financing, positioning Gozem Togo as a leader in an emerging sector.
The Future of Gozem Togo
Since its founding in 2018, Gozem Togo has evolved from a ride-hailing service to a super-app, offering mobility and financial solutions across Togo, Benin, Gabon, and Cameroon. The company’s vehicle financing model empowers drivers to upgrade from motorcycles to cars, fostering economic mobility.
Gozem Money, its digital banking service, has further expanded financial inclusion, processing millions of dollars in mobile payments daily. With a projected gross merchandise value (GMV) increase in 2025, Gozem Togo aims to solidify its position as a leader in Francophone Africa’s mobility and fintech ecosystem.
What are your thoughts on Gozem Togo’s growth? Share your views in the comments!
For more insights on vehicle financing and mobility solutions in Togo, visit Auto24.
