Gozem, Africa’s Super App, today announces its acquisition of Moneex, an innovative Fintech app from Benin that provides global banking services to African businesses and consumers. This transaction combines the strength of Gozem’s Super App network with the breadth of Moneex’s fintech capabilities, creating an unparalleled fintech platform for the Gozem Group.
The Gozem & Moneex Partnership
Founded in Cotonou in 2021, Moneex began as Kryptonite Africa. It focused on crypto-powered remittance between Europe and Benin. However, the company quickly pivoted in 2022 to address a bigger issue: African businesses lacking global banking access. As Moneex, it now focuses on Francophone West African countries. It provides multi-currency accounts to businesses and individuals there.
Founded in 2018, Gozem initially focused on transportation via motorcycles, tuk-tuks, and car taxis as the first ride-hailing app in Togo, but has since expanded to offer a variety of services, including delivery & logistics, in a single, multi-vertical Super App.
Thanks to the Moneex’s acquisition, Gozem will broaden its fintech offerings in Togo and Benin at start, to add in Q1 2024 the new “Gozem Money” capabilities for a wide range of payments solutions and value-added user experience.
“We are pleased to welcome Moneex to the Gozem family, bringing talented entrepreneurs has always been extremely valuable in our ability to innovate.</em> With a lot of excitement, the new fintech chapter of Gozem is officially open,” says 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.</em> Our fintech expertise and Gozem’s reach and resources will allow us to accelerate our mission of making better financial services accessible to everyone.”, says Florent Ogoutchoro, Co-Founder and CEO of Moneex.
“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,” says Martial Konvi, Global Head of Products at Gozem.
Consequently, with the acquisition of Moneex, Gozem further strengthens its commitment. This allows it to deliver a robust Super App suite that addresses the everyday needs of its customers across African markets.
The Super App Strategy: Gozem Money
The ultimate goal of the Gozem Moneex acquisition is to deploy Gozem Money rapidly. This new mobile wallet service is key to Gozem’s “super app” ambition, following the model of Southeast Asian giants like Gojek. A super app integrates all essential daily services into a single platform, increasing user engagement and loyalty.
Gozem Money will offer a range of payment solutions, including:
-
Mobile money transfers and wallets.
-
Bill payments and airtime top-ups.
-
Cashless payments for all Gozem services (transportation and delivery).
The launch of Gozem Money, initially scheduled for Q1 2024, is strategic. By providing users with an integrated wallet, Gozem makes its core mobility services more convenient. It also competes in the multi-billion-dollar mobile money sector, a beautiful segment in French-speaking West Africa.
The Future of Francophone Tech
The Gozem Moneex acquisition is a landmark deal for the Francophone African tech scene. It demonstrates that strategic M&A is crucial for rapid expansion. Established companies use it to enter new service categories quickly.
By integrating Moneex’s financial expertise, Gozem is effectively creating a captive financial ecosystem for its drivers and users. This demonstrates that strategic mergers and acquisitions (M&A) are vital. M&A allows established companies to expand into new service categories rapidly.
About Gozem & Moneex
Gozem is the leading Super App in Francophone Africa. Available on Android and iOS, the Gozem app provides mobility, e-commerce, and financial services. It targets consumers, drivers, and retailers. Gozem operates in 13 cities across four countries: Togo, Benin, Gabon, and Cameroon. Furthermore, since November 2018, over 1 million registered users have completed 20 million trips.
Founded in 2021 by Florent Ogoutchoro and Henry Ukoha, Moneex is a Benin-based fintech. Its mission is to provide global banking services in Africa. The company started as Kryptonite Africa, a remittance platform. As a result, the founders later decided to bridge the banking gap between African companies and the world.
