GOCAB SECURES $45 MILLION STRATEGIC FUNDING TO ACCELERATE INCLUSIVE MOBILITY

At GoCab, we are delighted to officially announce the successful completion of a $45 million strategic funding round, including $15 million in equity and $30 million in debt.

This transaction was completed with the support of leading investors who share our vision of inclusive, sustainable, and economically viable mobility, notably E3 Capital and Janngo Capital, with the participation of KawiSafi Ventures and Cur8 Capital.

Founded in 2024 by Azamat Sultan and Hendrick Ketchemen, GoCab is a social-impact mobility fintech addressing a critical challenge: limited access to vehicle financing and ownership for taxi drivers, delivery riders, and mobility entrepreneurs operating on transportation platforms.

Through its innovative drive-to-own model, GoCab enables users to gradually acquire their vehicles through structured daily payments, making independent entrepreneurship possible in markets where access to credit remains highly constrained.

In just 18 months of operations, GoCab is already active in five countries, generates more than $17 million in annual recurring revenue, and employs over 120 team members, demonstrating the strength and scalability of its model.

This funding represents a key milestone and will support: 

• Accelerating our growth across Africa and other emerging markets;

• Expanding into new high-potential cities;

• Scaling our vehicle fleet, with a strong focus on electric vehicles;

• Investing in advanced technology solutions, including AI-driven credit scoring, fleet optimisation, and risk management.

“At GoCab, our mission is clear: to restore dignity and unlock opportunities for millions of people excluded from the traditional financial system. This funding round strengthens our ability to scale our impact while building a fairer, more sustainable, and inclusive mobility ecosystem,” said Azamat Sultan, Co-Founder and Executive Chairman of GoCab.

This funding marks the beginning of an ambitious new growth phase, with the goal of financing more than 10,000 vehicles by 2027. Several major and innovative projects are currently in development and will be announced in the coming months.

GoCab aims to further strengthen its social impact, accelerate technological innovation, and actively contribute to the transformation of the mobility sector, while consolidating its position as a leading vehicle-financing mobility platform in Africa and beyond.