GoCab

About GoCab

GoCab is a mobility fintech company that provides ethical financing and vehicle ownership opportunities for gig-economy workers, primarily in Africa. Founded in 2024 by former investment bankers Azamat Sultan and Hendrick Ketchemen, the company aims to address the limited access to financial services and asset ownership for drivers and delivery couriers. Sultan, from Tajikistan, and Ketchemen, from Cameroon, leveraged their expertise in structured finance and emerging markets to create a business model that transforms capital into a tool for social mobility and financial inclusion.

The company's core offering is a drive-to-own model, which allows drivers to acquire cars and motorbikes through flexible leasing and ownership plans. GoCab purchases vehicles in bulk, primarily from China, and sells them to drivers who make daily payments deducted automatically from their earnings over a fixed term, typically three years. This model includes maintenance and insurance, providing a comprehensive solution for drivers who often lack access to traditional bank financing. GoCab operates in five countries, including Côte d'Ivoire, Senegal, and Morocco, and has expanded into the Middle East and Latin America.

By early 2026, GoCab had generated over $17 million in Annual Recurring Revenue (ARR) within 18 months of operation and employed over 120 people. In February 2026, the company announced a significant funding round of $45 million, consisting of $15 million in equity and $30 million in debt. The equity round was co-led by E3 Capital and JANNGO Capital, with participation from KawiSafi Ventures and Cur8 Capital. This funding is intended to scale operations, expand into new cities, increase the share of electric vehicles (EVs) in its fleet, and deploy AI-driven solutions for credit scoring, fleet optimization, and risk management. A core part of GoCab's strategy is the transition to electric mobility to reduce emissions and lower operating costs for drivers. The company also offers a comprehensive membership app that includes a digital wallet, debit card, and buy-now-pay-later (BNPL) options for fuel and phones.