To boost its fintech expansion, Benin’s Moneex acquired by West African super app Gozem
Super app from West Africa Gozem has expanded its financial services capabilities across its various markets by acquiring Moneex, a fintech company based in Benin.
Gozem, a taxi-hailing service that was introduced in Togo in November 2018, is currently available in 13 cities throughout Togo, Benin, Gabon, and Cameroon. Since its inception, more than a million users have registered, and more than 20 million trips have been made.
After making a shift to a super app model, the startup now offers consumers, drivers, and retailers a range of financial, e-commerce, and mobility services.
Gozem recently revealed that it has acquired Moneex, a fintech company based in Benin that was established in 2021 with the goal of offering global banking services to African consumers and businesses.
By combining the depth of Moneex’s fintech capabilities with the strength of Gozem’s super app network, the deal will give Gozem a “unparalleled fintech starting point,” according to the two parties.
In order to provide a wide range of payment options and a more valuable user experience, Gozem will expand its fintech offerings in Togo and Benin first. The new “Gozem Money” capabilities will be added in Q1 2024.
“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.
As part of its transformation into a super app for West Africa, Gozem has made other acquisitions. To expand its menu of offerings, the company bought Delivroum, the top food delivery app in Togo, in October 2020.
