Gozem, a Togolese startup whose app provides on-demand transportation, food delivery, and courier services, is acquiring Moneex, a two-year-old fintech in Benin.
The acquisition amount was undisclosed but Moneex’s founders will take an equity stake.
Moneex’s founders will join Gozem’s team to build out a mobile wallet service that will enable Gozem to obtain a license to offer a financial service it will call ‘Gozem Money’ to customers in Togo and Benin.
Gozem is a super app that has about 160,000 unique customers across four countries including Cameroon and Gabon.
Its app offers motorcycle, tricycle, and car rides, positioning as French-speaking West Africa’s answer to Uber.
Gozem has raised $46.6 million from the World Bank’s International Finance Corporation and other investors, according to data tracker Pitchbook.
It marks Gozem’s second acquisition since its launch in 2018, coming after its purchase of Delivroum, a food delivery outfit in Togo, in 2020 for an undisclosed amount.
