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Gozem Acquires Beninese Fintech Startup Moneex to Expand Financial Services

Key Developments

Gozem Acquires Beninese Fintech Startup Moneex to Expand Financial Services

Gozem, the leading super app in Francophone Africa, has acquired Beninese fintech startup Moneex in an undisclosed deal.
 
The acquisition will enable Gozem to expand its financial services offerings and launch a mobile money solution, Gozem Money, in Togo and Benin.

Moneex, founded in 2021, provides multi-currency accounts and payment solutions to businesses and individuals across Francophone West Africa.
 
The company’s expertise in fintech will complement Gozem’s existing transportation, delivery, and logistics services, creating a comprehensive super app that caters to the diverse needs of its users.

“We are excited to welcome Moneex to the Gozem family,” said Martial Konvi, Global Head of Product at Gozem.
 
“With the addition of the Moneex team, we are poised to accelerate the introduction of our innovative fintech offerings to the market and provide our users with a seamless and integrated experience.”

The acquisition of Moneex marks a significant step in Gozem’s expansion strategy.
 
The company plans to leverage Moneex’s technology and expertise to launch Gozem Money in Togo and Benin in the first quarter of 2024.
 
Gozem Money will offer various payment solutions, including mobile money transfers, bill payments, and airtime top-ups.

Gozem has pioneered the Francophone African market, launching its ride-hailing app in Togo in 2018.
 
Since then, the company has expanded its offerings to include delivery and logistics and operates in 13 cities across Togo, Benin, Gabon, and Cameroon. Gozem has over one million registered users and has facilitated over 10 million trips.

The acquisition of Moneex reinforces Gozem’s commitment to providing essential digital services to its users across Africa.
 
With its expanded financial services offerings, Gozem is well-positioned to continue to play a leading role in the continent’s digital transformation.

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Shekel Mobility Secures $7 Million in Funding to Drive Growth in African Automotive Market

New Investments

Shekel Mobility Secures $7 Million in Funding to Drive Growth in African Automotive Market

Shekel Mobility, a B2B auto dealers marketplace catering to the African used car market, has secured $7 million in funding to propel its growth and expansion plans.
 

The investment comprises $3.2 million in equity and over $4 million in debt, led by Ventures Platform and MaC Venture Capital.

The funds will be instrumental in quadrupling Shekel Mobility’s current Annual Recurring Revenue (ARR) of slightly over $2 million.

The startup plans to leverage this financial infusion to strengthen its market position and seize opportunities in the rapidly evolving African automotive market.

In its 20 months of operation, Shekel Mobility has demonstrated substantial traction, facilitating over $56 million in auto dealer transactions and supporting the growth of more than 1,400 dealers across 7,000 cars.

This proven track record showcases the effectiveness of Shekel Mobility’s platform in driving real-world transactions within the African used car market.

Founded by Benjamen Oladokun and Sanmi Olukanmi, Shekel Mobility is driven by the vision of becoming the premier platform for launching and growing car dealerships in Africa.

With a target of reaching transactions amounting to $10 billion annually by 2025, Shekel Mobility is poised to play a transformative role in shaping the future of the African automotive landscape.

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