Gozem Nets $ 30 million to extend the funding of vehicles, digital banking in French -speaking Africa

Since its release in 2018 as a route service in Togo, Jose It has expanded steadily throughout French West Africa, incorporating a wide range of services, as it seeks to become an over-application. The company now offers Ride-Hailing, Commerce, Vehicle financing and digital banking across the togo, Benin, Gabon and Cameroon.

Now, in an attempt to escalate its ecosystem, Gozem has raised $ 30 million in a B – $ 15 million funding round in debt – led by SAS Shipping Services and Al Mada Ventures . The company will use the funds to boost its vehicle funding service and import into new markets.

According to the founders of the start Gregory Costamagna and Raphael DanaGozem stands out from other platforms of funding and financing of vehicles, ensuring that its drivers are financially secure and can access career development opportunities.

Gozem’s route service covers motorcycles, three -dimensional and cars, while the vehicle’s financing product aims to help drivers buy vehicles. It also allows employees on its platform to make food and grocery deliveries as part of its e -commerce business.

“Our main customer is the professional guide,” Costamagna told TechCrunch. “We create an ecosystem to help drivers make more money and evolve in their lives. If successful, our whole business is successful.”

When we covered Gozem’s $ 5 million in 2021, he had just tried the vehicle financing model, working with local banks and developing over 1,500 vehicles that year. Since then, the company has worked with international lenders and the international financial company (IFC) and is now funding about 7,000 vehicles.

To attract drivers to its platform, the company buys vehicles using a mixture of debt and shares and drivers can pay for these vehicles in installments. Instead of demanding deposits in advance, Gozem restores costs through small reductions from drivers’ daily profits. Uber-backed Moove, Asaak and Max also offer vehicle financing products to drivers in different markets.

Gozem said his program ensures that payments remain affordable in relation to the driver’s average profits.

“We explain to all our drivers that this is a long -term journey,” Costamagna said. ‘We are funding their motorcycle, [but then they can upgrade to a [three-wheeler]Then a car, finally become full of vehicles. ”

The founders reported that a significant part of the debt that is growing is paved for the funding of the Gozem Vertical Vehicle. The company is also working to raise another $ 20 million in the coming months to support its expansion throughout France Africa over the next two years.

The Super-APP game

Many Fintech and mobility platforms have tried to incorporate different services under a super app, but the model was not always successful. In sub-Saharan Africa, for example, payment applications attempted to evolve into super applications such as Softbank-Backed ArmorThey have seen a little success.

Gozem, however, sees the attraction thanks to an approach that is similar to the tradition of Southeast Asia and the giants of Ride-Hail Grab and Gojek. Some of his opponents, such as Yassir and Mnt-Halan, have also explored similar models in Africa throughout the Magrev region and Egypt in some success.

Currently, the company has about 10,000 registered drivers and more than one million users have used its platform so far. He says that the monthly number of its users in the hundreds of thousands.

In addition to its basic services, Gozem has seen some development in the digital version of tickets, which is part of the Department of Trade. The company is reselling event tickets to all its markets and says it has worked on more than 50,000 tickets to Togo only for major concerts and events.

The company also introduced in digital banking (Gozem Money) via The acquisition of Moneex In 2023. The service, which today lives in Togo, allows users to make mobile payments and according to the company, is processing millions of dollars a day.

Prior to this last series B, Gozem records the gross value of goods of $ 50 million in its three vertical product. Dana said the company expects to triple or quadruple its growth in 2025 with the new capital.

He noted that the funding round of the B series validates the Gozem model, given the combination of investors of industrial and financial services involved in the ceiling table. SAS Shipping Services are part of the MSc Group, one of the largest African container terminals, while Al Mada Ventures is the Al Mada Group’s business arm.

“It is validated because we have investors operating on the ground in the same markets where we operate,” Dana said.