Mobility fintech firm GoCab has secured a funding package of up to $45 million to expand its ethical mobility financing platform across emerging markets, as it targets rapid fleet growth and revenue expansion over the next two years.
According to a statement made available to the media on Tuesday, the financing comprises $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.
GoCab operates a drive-to-own mobility fintech model that provides credit access to gig-economy workers, enabling them to acquire cars, motorbikes and mobile devices through structured financing programmes.
With the new funding, the company plans to scale its fleet to 10,000 active vehicles and reach $100 million in annual recurring revenue within 24 months. Currently operating across five markets, GoCab generates more than $17 million in ARR after just 18 months of operations and is projecting $50 million ARR by the end of 2026 and $100 million in 2027.
Founded in 2024 by Azamat Sultan and Hendrick Ketchemen, GoCab was created to address limited access to ethical financing and vehicle ownership for gig-economy workers across Africa. The company’s
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