• GoCab secured $45 million in funding, including $15 million equity and $30 million debt, to expand in West Africa and emerging markets.

• The company plans to finance nearly 10,000 vehicles over two years, including electric vehicles, targeting taxi drivers and delivery workers.

• GoCab generates $17 million in annual recurring revenue and operates in five countries with over 120 employees.

British mobility fintech GoCab announced on February 3, 2026, a $45 million funding round to support its expansion in West Africa and other emerging markets. The round, led by E3 Capital and Janngo Capital, includes $15 million in equity and $30 million in debt.

The company will use the proceeds to acquire vehicles for taxi drivers and delivery couriers and to strengthen operational capacity in existing markets. GoCab aims to finance roughly 10,000 vehicles over the next two years, with part of the capital dedicated to electric vehicle deployment and broader financing access for female drivers.

GoCab operates a buy-and-sell model with installment payments. It purchases vehicles in bulk, mainly from Asian suppliers, and sells them to drivers under three-year repayment contracts that cover daily payments, insurance, and maintenance.

The expansion occurs amid rapid shifts in West Africa’s automotive market. Chinese manufacturers’ competitive pricing challenges Japanese and European dominance. Rising fuel costs and climate considerations are also accelerating interest in electric mobility, especially in cities such as Abidjan, Dakar, and Lagos.

Since 2024, GoCab has operated in Côte d’Ivoire, Senegal, Morocco, and select regions in the Middle East and Latin America. The company reports more than $17 million in annual recurring revenue and employs over 120 staff across five countries.

SG