The International Finance Corporation is weighing an equity stake of up to US$4 million in Gigmile, the Ghanaian mobility fintech, as part of the company’s Series A round. The proposed deal would back a lease-to-own model aimed at drivers and micro-entrepreneurs who lack access to conventional vehicle credit.
Why the IFC move matters
Gigmile operates through its Gamma Mobility platform in Nigeria and Ghana. It provides motorcycles, tricycles and cars on lease-to-own terms for drivers, logistics operators and small business owners.
The company links repayments to earnings. Daily instalments are capped at one-third of expected income. That structure matters in markets where collateral is scarce.
Founded in 2022 by former Jumia country managers Kayode Adeyinka and Samuel Esiri, Gigmile has raised US$21 million in debt and equity to date. Its seed round was led by Enza Capital, with support from Seedstars International Ventures and Norrsken Africa Fund.
The IFC interest fits a wider development finance theme. Asset-backed lending for gig workers can widen access to productive vehicles. However, it also gives lenders clearer cash-flow visibility than unsecured credit.
For investors, the signal is simple: mobility finance is moving from niche experiment to institutionally backed scale-up.
What the company’s numbers show
Gigmile says it has deployed more than 10,000 vehicles across 13 cities in Nigeria and Ghana. About 8,500 riders remain active, while 1,500 have already reached vehicle ownership.
Its 2025 impact report adds more detail. The company recorded a 94% repayment rate, more than US$2 million in monthly rider earnings and over US$18 million in financed mobility assets, according to company figures.
Those results point to operating discipline. Meanwhile, they suggest the model generates enough usage to support expansion.
The company has also built supply relationships with Yamaha, TVS, Bajaj and Hero. Those ties help secure vehicle supply for a fast-growing fleet.
What does the deal mean for investors?
The proposed IFC stake would support Gigmile’s Series A and fund expansion in both markets. It would also help strengthen environmental, social and governance standards, anti-money laundering controls and responsible lending practices.
Gigmile is targeting more than 15 additional cities over the next year. It also wants US$100 million in financed mobility assets by 2027.
Its next phase includes personal mobility leasing for salaried workers. In addition, it plans embedded finance products and a shift towards electric and compressed natural gas vehicles.
The timing is notable. The company is scaling in a market where vehicle access remains a hard constraint for income generation. However, the model’s appeal now extends beyond financial inclusion — it offers investors a clearer path to asset-backed growth.
If approved, the deal would place Gigmile among a small group of African mobility fintechs drawing formal development capital. Investors should watch whether the round closes, whether repayment rates hold, and how quickly fleet growth converts into owned assets.
Quick answers
The International Finance Corporation is weighing an equity investment of up to US$4 million in Gigmile as part of the company’s Series A funding round.
Gigmile has deployed more than 10,000 vehicles across 13 cities in Nigeria and Ghana, and its 2025 impact report records a 94% repayment rate.
Gigmile is targeting more than 15 additional cities within the next year and aims to reach US$100 million in financed mobility assets by 2027.
