Gozem Raises $5million in Series A Funding to Accelerate its Expansion

Gozem, the leading multi-vertical super app platform in West & Central Africa, on Thursday 2nd December announced the closing of a $5 million Series A round raised from corporate and institutional investors spread across four continents with specialties in health tech, fintech, and mobility.

The main investors of the round include: AAIC, Thunes (TransferTo), Momentum Ventures (SMRT), Innoport Ventures (Schulte Group), CMC Ventures (National Express) and Liil Ventures (Mobility ADO).

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.

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“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 Gozem develop more services in its Super App and expand geographically,” said Gozem Co-Founder Raphael Dana.

Launched in Lome, Togo in 2018, Gozem began as a single motorcycle-taxi ride-hailing service and in three years has become Francophone Africa’s leading Super App with a portfolio of services that includes transport of passengers and goods, ecommerce and food delivery, financing, and soon digital banking.

Gozem’s team is now 250 members strong split between its four active markets: Togo, Benin, Gabon and Cameroon.

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With this latest round of financing, Gozem will prepare its expansion into DRC, Senegal and Ivory Coast.

In addition to geographical expansion, Gozem will continue to deepen its vertical offerings especially in Fintech with its Lending and Digital Banking solutions that will help Gozem fulfill its goal of empowering local communities.

“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 than200,000 vehicles in the next 3 years,” said Gozem Co-Founder Gregory Costamagna.

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Gozem’s strategic investors will be instrumental in helping Gozem deepen its expertise in each of its business verticals.

“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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