The West African super app Gozem has purchased a Benin-based fintech company called Moneex to expand its financial services in several markets.
Originally launched in Togo in November 2018 as a taxi-hailing service, Gozem now operates in 13 cities across Togo, Benin, Gabon, and Cameroon. It has over one million registered users and has completed more than 20 million trips since its start.
Gozem, which started as a taxi service, has shifted to become a super app offering various services like transportation, e-commerce, and financial services for consumers, drivers, and retailers.
Now, Gozem has announced the acquisition of Moneex, a fintech company founded in Benin in 2021. Moneex’s mission was to provide banking services to businesses and consumers across Africa. The deal combines Gozem’s super app network with Moneex’s fintech capabilities, creating a powerful starting point for Gozem in the fintech industry.
Initially, Gozem will enhance its fintech offerings in Togo and Benin. In the first quarter of 2024, it plans to introduce “Gozem Money,” offering a wide range of payment solutions and improved user experiences.
Jean-Martial Moulaud, the group director of Gozem, expressed excitement about this new fintech venture, and Florent Ogoutchoro, co-founder and CEO of Moneex, welcomed the opportunity to work with Gozem in realising a more inclusive and innovative financial future in Africa.
This isn’t Gozem’s first acquisition as it transforms into a West African super app. In October 2020, the company acquired Delivroum, Togo’s leading food delivery app, to expand its services to include meal deliveries.