Founded in 2024, GoCab was created to address a fundamental challenge across Africa: limited access to ethical financing and vehicle ownership for gig-economy workers. By combining mobility, technology, and inclusive finance, the company enables drivers and delivery couriers to generate stable income while progressively gaining ownership of their vehicles. By 2025, GoCab had taken a leading position in several African markets, supporting thousands of drivers and contributing to cleaner, more sustainable urban mobility systems.
GoCab was founded by Azamat Sultan and Hendrick Ketchemen, from the investment banking industry with deep expertise in structured finance and emerging markets. The company was built with a clear ambition: transform capital into a powerful tool for social mobility, financial inclusion, and long-term economic empowerment. Today, GoCab employs over 120 people across five countries, representing 18 nationalities.
The company has successfully closed a $45 million financing round, comprising $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. In parallel, GoCab has secured more than $30 million in debt commitments from Cur8 Capital and others as part of a broader $60 million Shariah-compliant debt facility currently under structuring.
This funding will allow GoCab to scale operations in its core African markets, expand into new high-growth cities across and outside the continent, significantly increase the share of electric vehicles within its fleet, and deploy AI-driven solutions for credit scoring, fleet optimisation, and risk management. Across five markets, GoCab now generates over $17 million in Annual Recurring Revenue (ARR) after just 18 months of operations and is on target to reach $50 million by end of 2026 and $100m in 2027.
Investors highlighted GoCab’s positioning at the intersection of financial inclusion, climate-smart mobility, and the future of work.
Africa is home to a rapidly growing gig workforce, yet millions of workers remain excluded from traditional financial systems. GoCab directly addresses this challenge by providing access to vehicles, structured ownership pathways, and predictable income opportunities. Electric mobility is a core pillar of the company’s strategy: by expanding its EV fleet, GoCab aims to reduce emissions, lower operating costs for drivers, and support African cities in building cleaner, more resilient transport ecosystems. With over 400 million gig workers globally, many of them based in Africa, GoCab positions itself at the intersection of financial inclusion, electric mobility, and technology-driven impact.
Mobility Fintech GoCab Raises $45M to Scale Electric Mobility and Financial Inclusion Across Africa
Posted in Commentary with tags GoCab on February 3, 2026 by itnerdFounded in 2024, GoCab was created to address a fundamental challenge across Africa: limited access to ethical financing and vehicle ownership for gig-economy workers. By combining mobility, technology, and inclusive finance, the company enables drivers and delivery couriers to generate stable income while progressively gaining ownership of their vehicles. By 2025, GoCab had taken a leading position in several African markets, supporting thousands of drivers and contributing to cleaner, more sustainable urban mobility systems.
GoCab was founded by Azamat Sultan and Hendrick Ketchemen, from the investment banking industry with deep expertise in structured finance and emerging markets. The company was built with a clear ambition: transform capital into a powerful tool for social mobility, financial inclusion, and long-term economic empowerment. Today, GoCab employs over 120 people across five countries, representing 18 nationalities.
The company has successfully closed a $45 million financing round, comprising $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. In parallel, GoCab has secured more than $30 million in debt commitments from Cur8 Capital and others as part of a broader $60 million Shariah-compliant debt facility currently under structuring.
This funding will allow GoCab to scale operations in its core African markets, expand into new high-growth cities across and outside the continent, significantly increase the share of electric vehicles within its fleet, and deploy AI-driven solutions for credit scoring, fleet optimisation, and risk management. Across five markets, GoCab now generates over $17 million in Annual Recurring Revenue (ARR) after just 18 months of operations and is on target to reach $50 million by end of 2026 and $100m in 2027.
Investors highlighted GoCab’s positioning at the intersection of financial inclusion, climate-smart mobility, and the future of work.
Africa is home to a rapidly growing gig workforce, yet millions of workers remain excluded from traditional financial systems. GoCab directly addresses this challenge by providing access to vehicles, structured ownership pathways, and predictable income opportunities. Electric mobility is a core pillar of the company’s strategy: by expanding its EV fleet, GoCab aims to reduce emissions, lower operating costs for drivers, and support African cities in building cleaner, more resilient transport ecosystems. With over 400 million gig workers globally, many of them based in Africa, GoCab positions itself at the intersection of financial inclusion, electric mobility, and technology-driven impact.
Leave a comment »