With the acquisition, Gozem enters another segment of the tech ecosystem while accelerating its growth on the continent.

Beninese fintech startup Moneex announced earlier today its acquisition by Togolese mobility solution Gozem. The amount of the transaction was not disclosed but the acquisition aims to launch a financial services arm, Gozem Money, in French-speaking African countries.  

“Expanding our financial services through the Gozem Money solution represents the next frontier in our ongoing commitment to delivering essential digital services to our users across Africa. With the addition of the Moneex Team to our ranks, we are poised to accelerate the introduction of our innovative fintech offerings to the market,” said  Martial Konvi (photo, left), Global Head of Product at Gozem.

Since its creation, Gozem has raised $11.7 million to accelerate its growth on the continent. The e-mobility startup, launched in 2018 and based in Togo and Singapore, is present in several French-speaking African markets such as Benin, Togo, and Cameroon. It has managed to add various services, such as parcel delivery, food ordering, and e-commerce, to its mobile app, becoming a super app.

Meanwhile, Moneex, the fintech created by Florent Ogoutchoro and Henry Ukoha, offers its customers multi-currency accounts, enabling them to convert funds at the best rates, receive international payments, and pay for goods and services worldwide.

The financial technology sector is the most attractive in Africa. Between July 2021 and June 2023, African fintechs raised $2.7 billion, according to the report "Finnovating for Africa: Reimagining the African financial services landscape 2023" published by Disrupt Africa.

Adoni Conrad Quenum