West African super app Gozem has acquired Benin-based fintech company Moneex to expand its financial services capabilities across its various markets.
Launched in Togo in November 2018 as a taxi-hailing service, Gozem operates in 13 cities across Togo, Benin, Gabon and Cameroon, with more than one million users registered and over 20 million trips taken since its launch.
The startup has been pivoting towards a super app model, and now provides a suite of mobility, e-commerce, and financial services to consumers, drivers and retailers.
Gozem has now announced its acquisition of Moneex, a Benin-based fintech company founded in 2021 with the mission of providing global banking services to businesses and consumers in Africa. The transaction will combines the strength of Gozem’s super app network with the breadth of Moneex’s fintech capabilities, creating what the two parties said would be an “unparalleled fintech starting point” for Gozem.
Gozem will broaden its fintech offerings in Togo and Benin to start, to add in Q1 2024 the new “Gozem Money” capabilities for a wide range of payments solutions and value-added user experience.
“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,” said Jean-Martial Moulaud, group director of Gozem.
“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,” said Florent Ogoutchoro, co-founder and CEO of Moneex.
It is not the first acquisition made by Gozem as part of its transition into a West African super app. In October 2020 the company acquired Delivroum, Togo’s leading food delivery app, in order to add meal delivery to its bouquet of services.
