Exclusive: London-founded GoCab raises $45M to offer vehicle loans to gig workers in Africa
- GoCab completed a $45 million funding round, including $15 million in equity and $30 million in debt.
- The company has generated $17 million in recurring revenue across five countries since its launch in 2024.
- GoCab aims to reach $50 million in revenue by the end of the year.
GoCab's innovative approach to vehicle financing and support for gig workers addresses significant challenges in the ride-hailing industry, particularly in Africa. The focus on electric vehicles and Shariah-compliant loans could set a new standard in the market, but the company must navigate competition and ensure sustainable growth.
