IFC Considers Up to $4 Million Investment in Ghanaian Startup Gigmile

The International Finance Corporation (IFC) is considering an equity investment of up to $4 million in Gigmile Technologies, a mobility fintech operating in Nigeria and Ghana.
The proposed investment would form part of Gigmile's Series A funding round and support the company's expansion in both markets. The investment remains under consideration and has not been approved.
Gigmile provides lease-to-own vehicle financing to drivers, logistics operators and micro-entrepreneurs who often lack the collateral required for traditional vehicle financing.

Gigmile Targets Gig Economy Mobility

Founded in 2022 by former Jumia country managers Kayode Adeyinka and Samuel Esiri, Gigmile operates through its Gamma Mobility platform.
The platform provides motorcycles, tricycles and cars through lease-to-own arrangements. Packages include insurance, maintenance and regulatory documentation, with daily repayments capped at one-third of expected earnings.
The model is designed to link repayment levels to the income generated by drivers and other mobility operators.

More Than 10,000 Vehicles Deployed

Gigmile has raised $21 million in debt and equity to date, including a seed round led by Enza Capital, with participation from Seedstars International Ventures and Norrsken Africa Fund.
The company says it has deployed more than 10,000 vehicles across 13 cities in Nigeria and Ghana. About 8,500 riders are currently active, while 1,500 have progressed to vehicle ownership.
Gigmile's 2025 impact report recorded a 94% repayment rate, more than $2 million in monthly rider earnings and over $18 million in financed mobility assets.

Gigmile Plans Further Expansion

The company has strategic relationships with Yamaha, TVS, Bajaj and Hero, giving it access to vehicle manufacturers serving the African mobility market.
Gigmile plans to enter more than 15 additional cities over the next year and is targeting $100 million in financed mobility assets by 2027.
Its expansion plans also include personal mobility leasing for salaried professionals, embedded finance products and the introduction of electric and compressed natural gas vehicles.

Yango Invests in Gigmile

Gigmile received another strategic investment in December 2025 when Yango Group invested through its venture arm, Yango Ventures.
The investment marked Yango Ventures' first investment in Nigeria and built on an existing partnership between the companies in Ghana.
Under the partnership, Gigmile provides vehicle financing to drivers using Yango's ride-hailing platform in Ghana. The arrangement is intended to increase drivers' access to vehicles while giving Yango access to a larger financed driver fleet.

IFC Focuses on Financial Inclusion

The proposed IFC investment would give the company additional capital for expansion while supporting improvements in environmental, social and governance standards, anti-money laundering controls and responsible lending practices.
The IFC's potential participation also reflects the wider financing gap faced by gig economy workers and small businesses that have limited access to conventional asset finance.
For Gigmile, securing the proposed Series A investment would provide additional funding to expand its lease-to-own model across Nigeria and Ghana.
The investment comes as African startup funding increased to more than $3 billion in 2025, up 33% from the previous year.

Gigmile's focus on vehicle financing targets a specific gap in the market, with the company combining vehicle supply, financing, insurance and maintenance within its platform. If the IFC investment is approved, the funding would support the company's next stage of expansion and its broader target of increasing mobility asset ownership among drivers and small business operators.