GoCab - empowering gig drivers with drive-to-own vehicle financing

If you’ve ever sat with a gig driver and looked at their numbers, you see the same paradox every time. They work nonstop, but the asset that makes the income possible still belongs to someone else.

Fintech of my choice: GoCab

I spoke recently with someone running a drive-to-own model in Dubai, and the growth stats were honestly shocking. It made me pay attention again to this category, because it sits right on the line between fintech and real life. People do not need another app, they need a path to ownership.

GoCab is a drive-to-own mobility fintech. In simple terms, they finance cars, motorbikes, and even phones for gig-economy drivers, and the driver becomes the owner over time instead of renting forever.

The company was founded in 2024 by two ex-bankers, Azamat Sultan and Hendrick Ketchemen. That background matters, because drive-to-own is not a “nice idea” business. It is underwriting, collections, asset management, and ops, every single day.

They have raised $45M so far, split into $15M equity and $30M debt, led by E3 Capital and Janngo VC, with KawiSafi and Cur8 participating. And they are already building a $60M Shariah-compliant debt facility, which tells you they are serious about scale and about matching the product to local realities.

The early traction is hard to ignore. In 18 months they reached $17M ARR, grew to 100+ people, and operate across five countries. Their next target is clear: 10K vehicles and $100M ARR within two years.

The business logic is straightforward and, if executed well, powerful. GoCab earns interest plus performance-based fees, so returns are tied to real driver performance, not just a spreadsheet. If ride-hailing platforms keep pushing for electric fleets, financing becomes the bottleneck, and that financing edge can turn into a moat.

There’s also a values layer that feels rare in a metrics-obsessed market. GoCab commits 1% of net profits to a waqf fund supporting underprivileged children. Not marketing credits. A structural promise that scales with profitability.

Every day, FinBox Solutions highlights one hand picked fintech on the FinBox page, and the project with the most votes becomes Fintech of the Week.

Follow FinBox Solutions if you want more real fintech stories like this.

I like GoCab because it treats mobility as a stepping stone, not a trap. If they keep credit quality tight while scaling the debt side, this can become one of those quietly massive businesses.

Do you think drive-to-own financing is the fastest route to ownership for gig workers, and what asset should be next after vehicles?

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