Published on 26 Mar 2025

Two Asian startups that run super apps in Africa raise fresh funding

Gozem of Singapore and Hakki Africa of Japan secure US$30m and US$13.1m respectively to boost African operations

Photo source: Gozem

Two Asian-headquartered companies involved in Africa’s ride-hailing and delivery industry – Singapore-based Gozem and Japan’s Hakki Africa – have raised new capital to scale their operations across the continent.

Gozem, which describes itself as a ‘super app’ – incorporating ride-hailing, food and supermarket delivery, vehicle financing, and other services – has raised US$30m in Series B funding. The round was backed by MSC Mediterranean Shipping Company and Al Mada Ventures, a Morocco-based investment firm.

Founded in Togo in 2018 as a motorcycle-taxi service, Gozem has since expanded into Benin, Gabon, and Cameroon. The new funding – comprising both debt and equity – will support Gozem’s continued expansion in West and Central Africa, and enable the company to finance more new vehicles for drivers.

Meanwhile, Tokyo-based Hakki, which has been operating in Kenya since 2018, raised US$13.1m from Japanese investors to grow its used vehicle financing business, which is focused on taxi drivers, and to support its planned expansion into South Africa. In Kenya, many drivers struggle to secure loans from traditional banks due to a lack of credit history or collateral, forcing them to rely on expensive rentals that erode their earnings.

Founded by Japanese entrepreneur Reiji Kobayashi, Hakki has developed a proprietary credit-scoring algorithm that assesses drivers based on alternative data sources, including M-Pesa mobile money transactions and ride earnings. Last year, Hakki partnered with ride-hailing platform Bolt to finance 1,500 cars for Kenyan drivers.

Hakki's latest fundraising round saw commitments from Japanese investors including venture capital firm Global Brain Corporation, SMBC Venture Capital, and the Norinchukin Innovation Fund.

With an economy three times the size of Kenya’s, South Africa offers an appealing growth market. The country’s ride-hailing sector has expanded rapidly, with Uber alone accounting for an estimated 40,000 drivers. Bolt is another major player, alongside local competitors such as Shesha, Twytch, and Wanatu. Food delivery is also booming, with the market valued at over US$1.1bn, driven by major players such as Shoprite Group’s Checkers Sixty60 grocery delivery service.

Yet, providing vehicle financing for gig workers in Africa comes with challenges, as Moove – Uber’s largest vehicle financing partner globally – has discovered. The company, founded in 2020, initially launched in Nigeria, Ghana and South Africa. It offers drivers a way to acquire cars and repay in daily instalments through Uber earnings. However, Moove has struggled to achieve profitability in some markets due to high vehicle acquisition costs and repayment difficulties, particularly in economically strained countries such as Nigeria. Despite this, it has reportedly reached profitability in South Africa.

References

'Gozem hopes to be the biggest super app in Africa', The Borgen Project, 07 October 2021

'Japan’s Hakki secures $10M+ funding to empower Kenyan cab drivers with own vehicles', The Bridge, 10 October 2023

'Why one of Africa’s most-funded startups is betting on India and the U.K.', Rest of World, 02 April 2024

'Checkers Sixty60 maintains stranglehold on food delivery market', Business Day, 01 August 2024

'New deal to provide 1,500 vehicles for Bolt drivers without cars', Capital Digital Media, 20 August 2024

'Checkers Sixty60’s dark underbelly', Daily Investor, 28 October 2024

'Global Brain has invested in HAKKI AFRICA INC., a provider of used car microfinance services for taxi drivers in Africa, as the co-lead investor', Global Brain, 03 February 2025

'Hakki Africa raises funding round to expand vehicle financing in Kenya', WeeTracker, 03 February 2025

'Profitable Hakki Africa raises $12.7m, backed by Japanese investors', Launch Base Africa, 03 February 2025

'Japanese microlender raises $12.7m to expand to India, South Africa', Nikkei Asia, 04 February 2025

'South African companies taking on Uber and Bolt', MyBroadband, 06 February 2025