Startups & Ideas

Gozem Super App closes $5 Million Series A

Gozem, a leading multi-vertical super app platform in West and Central Africa has announced the closing of a $5 Million Series A round raised from corporate and institutional investors spread from across four continents with specialities in health tech, fintech and mobility.

The main investors of this round of funding include: AAIC, Thunes (TransferTo), Momentum Ventures

Launched in 2018, the company began as a single motorcycle-taxi ride-hailing service. It has since expanded to be a Super App offering a lot of services from transport of passengers and goods, e-commerce and food delivery, financing, and soon digital banking.

Currently, the super app operates in 13 cities across Cameroon, Gabon, Benin, and Togo. The company says they have over 800,000 registered users and that they’ve completed more than 5 million trips since launch.

Gozem’s team is now 250 members strong, split between its four active markets: Togo, Benin, Gabon and Cameroon. With this latest round of financing, Gozem will prepare its expansion into DRC, Senegal and Ivory Coast.

This funding round follows $7 million raised in previous seed rounds from investors such as Plug & Play Ventures (USA), Launch Africa Ventures (South Africa), Bansea (Singapore), Virtual Network (Switzerland), and others. Including today’s Series A, Gozem has raised a total of $12 million to date.

In addition to geographical expansion, the company will continue to deepen its vertical offerings especially in Fintech with its lending and digital banking solutions that will help it fulfill its goal of empowering local communities.

Comments from Gozem and Investors:

“We are excited and delighted to have attracted global investors that share our common vision of building digital ecosystems. This latest round of financing will be instrumental in helping (us) develop more services in its Super App and expand geographically,” said Gozem Co-Founder Raphael Dana.

“In the first 8 months of operations of our Vehicle Leasing program, Gozem has been able to lease close to 1,500 vehicles to drivers. This round of investment will help us accelerate this effort of providing easy and affordable financing solutions to drivers and lease more than 200,000 vehicles in the next 3 years,” said the company’s Co-Founder Gregory Costamagna.

“The TransferTo group is excited to participate in the Gozem adventure, to support its needs and bring them its expertise and knowledge of African markets. Gozem’s Super App will soon provide various mobility and digital payment services to millions of users which will help position them as a leader in Francophone Africa,” said Allan Green, Chairman of TransferTo.

“We’re excited to see so many mobility players joining us in this round to help Gozem deploy more mobility features and explore various mass transit opportunities,” said Nadim Matuk, Investment Principal at Liil Ventures.

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