Mobility finance platform GoCab raises $45m
GoCab provides credit to gig-economy workers in emerging markets to buy their own car or motorbike.
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Côte d’Ivoire-based GoCab has announced a $45 million funding round – $15 million equity and $30 million debt – to scale its mobility financing platform across emerging markets.
GoCab provides credit to gig-economy workers in emerging markets to buy their own car or motorbike.
The equity round was co-led by E3 Capital and Janngo Capital, with participation from KawiSafi Ventures and Cur8 Capital. In parallel, GoCab has secured more than $30 million in debt commitments from Cur8 Capital and others as part of a broader $60 million Shariah-compliant debt facility currently under structuring.
This funding will enable GoCab to expand its mobility fintech model, providing gig workers with access to productive assets and enhancing economic opportunities.
“For us, GoCab is about restoring dignity and opportunity through ownership,” said Azamat Sultan, co-founder and executive chairman of GoCab. “Across Africa, millions of people are locked out of both mobility and finance. We saw how capital was flowing everywhere except to the people who actually needed it to work. This round allows us to scale responsibly expanding access to fair, ethical financing while accelerating the transition to electric mobility, lowering carbon emissions, and building a more inclusive and sustainable future in close alignment with our investors.”
Vladimir Dugin, managing partner at E3 Capital, said: “The shortage of vehicles and the high cost of transportation remain two of the most pressing challenges across Africa. GoCab is addressing both head-on through a data- and technology-driven platform that expands access to mobility while improving efficiency at scale. Its rapidly growing EV fleet lowers costs for riders and drivers alike, while significantly reducing emissions. We are proud to support GoCab as it builds the leading pan-African mobility platform for the future.”
Fatoumata Bâ, founder and executive chair of Janngo Capital, added: “We are proud to lead GoCab’s $15 million equity round, catalysing over $30 million in debt financing. We were impressed by their vision, their world-class team, and the quality of their execution. With this funding, GoCab now has the scale to deploy thousands of productive vehicles, each supporting a full-time income. With a clear operational roadmap toward 10,000 active assets and $100 million in recurring revenue, GoCab illustrates how ethical financing can translate into tens of thousands of decent jobs, household resilience, and sustainable growth at scale.”
Marcus Watson, a partner at KawiSafi Ventures commented: “GoCab is building critical infrastructure for climate-smart mobility and the future of work in emerging markets. The combination of disciplined execution, strong unit economics, and a clear impact thesis makes GoCab a compelling platform for sustainable growth.”
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