GoCab Secures $45M In Equity And Debt Financing

The $15 million equity round was led by E3 Capital and JANNGO Capital, with participation from KawiSafi Ventures and Cur8 Capital. The $30 million debt was provided by Cur8 Capital and other lenders. Following the funding, Vladimir Dugin (E3 Capital) and Fatoumata Bâ (JANNGO Capital) are joining GoCab’s board.

GoCab plans to use the funding to expand in existing African markets, enter new cities, increase its electric vehicle fleet, and introduce AI tools for credit scoring and risk management.

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Hendrick Ketchemen, Co-Founder of GoCab, added: “Transforming lives and improving the daily reality of thousands of families is the mission we have set for ourselves. We believe that capital can and must become a powerful force for transformation across Africa and emerging markets.”

Led by Executive Chairman Azamat Sultan and Co-Founder Hendrick Ketchemen GoCab offers a fintech-driven mobility platform that enables gig workers, such as drivers and couriers, to purchase vehicles through ethical, Shariah-compliant financing.

GoCab currently operates in five countries with a team of 120 employees, generating over $17 million in annual recurring revenue and supporting thousands of drivers across its mobility and financial services platform.

“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.”

About GoCab

GoCab helps drivers and couriers in emerging markets access fair and ethical financing to buy vehicles, grow their businesses and improve their livelihoods. Their platform supports financial inclusion, creates long-term economic opportunities and contributes to stronger, sustainable communities.