Gozem's Fintech Evolution: Moneex Acquisition Signals Growth Ambitions

West African super app Gozem has made a strategic move to enhance its financial services capabilities by acquiring Benin-based fintech company Moneex.

This acquisition aligns with Gozem's trajectory towards becoming a comprehensive super app, offering a suite of services including mobility, e-commerce, and now strengthened financial solutions.

Originally launched in Togo in November 2018 as a taxi-hailing service, Gozem has expanded its operations to 13 cities across Togo, Benin, Gabon, and Cameroon.

With over one million registered users and more than 20 million trips completed since its inception, Gozem has emerged as a significant player in the West African tech landscape.

Gozem's Fintech Evolution is Breaking Ground

The recent acquisition of Moneex, a Benin-based fintech company established in 2021, aims to fuse Gozem's expansive super app network with Moneex's fintech expertise.

The collaboration is expected to create a robust foundation for Gozem in the fintech arena, offering what the parties involved describe as an "unparalleled fintech starting point."

Jean-Martial Moulaud, Group Director of Gozem, expressed enthusiasm about the partnership, stating, "We are pleased to welcome Moneex to the Gozem family, bringing talented entrepreneurs has always been extremely valuable in our ability to innovate. With a lot of excitement the new fintech chapter of Gozem is officially open."

Florent Ogoutchoro, Co-founder and CEO of Moneex, shared the sentiment, saying, "We are thrilled to be joining Gozem, a company that shares our vision for a more inclusive and innovative financial future in Africa. Our fintech expertise and Gozem’s reach and resources will allow us to accelerate our mission of making better financial services accessible to everyone."

This acquisition follows Gozem's previous strategic moves, including the acquisition of Delivroum, Togo’s leading food delivery app, in October 2020.

These steps are part of Gozem's larger initiative to establish itself as a West African super app, offering a diverse range of services to meet the evolving needs of its user base.

The integration of Moneex's capabilities is expected to broaden Gozem's fintech offerings in Togo and Benin, with plans to introduce "Gozem Money" capabilities in Q1 2024, providing a range of payment solutions and an enhanced user experience.

Tom Jackson / Disrupt Africa