How Gigmile’s new funding strengthen asset-backed last-mile logistics?

As Africa’s e-commerce and on-demand delivery markets expand, access to income-generating vehicles has emerged as a critical bottleneck for last-mile logistics. Gigmile, a mobility-focused fintech platform, is positioning itself to address this challenge by combining vehicle financing, digital tools and alternative underwriting models tailored to informal and gig workers. The company just secured a strategic investment from Yango Group through its venture arm, Yango Ventures, marking Yango’s first investment in Nigeria and underscoring growing investor interest in logistics-linked fintech across the continent.

While the value of Yango Ventures’ investment was not disclosed, it adds to Gigmile’s growing capital base and follows the close of its Seed funding round in the third quarter of 2025. Yango Group said the investment reflects its focus on strengthening digital and delivery infrastructure in high-growth markets. Through the partnership, Gigmile is expected to accelerate product development and regional expansion, supporting the rising demand for reliable last-mile delivery services in Africa’s major cities.

Yango Group said the investment reflects its focus on strengthening digital and delivery infrastructure in high-growth markets. In a LinkedIn post announcing the investment, Daniil Shuleyko, CEO of Yango Group, said the partnership was underpinned by a shared understanding of how efficient delivery systems scale across emerging markets. He noted that the investment would support Gigmile’s product development and regional expansion, with the aim of improving delivery efficiency while advancing financial inclusion for gig and informal workers.

From financing gap to logistics enabler
Founded in 2022 by former Jumia country managers Kayode Adeyinka and Samuel Esiri, Gigmile was established to solve a structural problem in African logistics: the exclusion of informal workers from traditional vehicle financing. In markets where delivery, ride-hailing and logistics services rely heavily on informal labour, requirements such as collateral, stable employment contracts and long credit histories often prevent workers from accessing vehicles.

Gigmile’s flagship platform, Gamma Mobility, addresses this gap through a lease-to-own model that allows gig workers to finance motorcycles, tricycles, cars and personal commuting vehicles. The model is designed to link asset access directly to income generation, enabling workers to earn while gradually building ownership and financial stability.

Alternative underwriting and risk management
At the core of Gigmile’s approach is an alternative underwriting framework built around three principles: willingness to pay, ability to pay and risk mitigation. Rather than relying on conventional credit scores, the platform analyses behavioural patterns to identify consistent repayment behaviour. Repayments are tied directly to productive vehicle use, ensuring that instalments are supported by real income streams.

Risk is managed through digital tools including smart asset tracking, virtual accounts and embedded payment systems, allowing for transparency, early intervention and reduced default rates. According to company data, this model has helped Gamma Mobility achieve repayment rates of 94% and utilisation rates of 95%, indicators of operational stability in a segment often perceived as high risk by traditional lenders.

Scale and impact across Nigeria and Ghana
Gigmile’s operational footprint has expanded rapidly in Nigeria and Ghana, where it currently operates in 13 cities. Two weeks before announcing the Yango investment, Gamma Mobility reported the deployment of 10,000 vehicles, a milestone it described as empowering 10,000 livelihoods. Of these, more than 8,500 riders are currently active on the platform, while around 1,500 have completed their leases and now own their vehicles outright.

The company’s 2025 Impact Report, released alongside the close of its Seed funding round in Q3 2025, provides further insight into scale and capital deployment. According to the report, more than 15,000 gig workers have accessed stable work and recurring income through the platform, generating over $2 million in monthly rider earnings. To date, over $18 million has been deployed in financed mobility assets across Nigeria and Ghana.

The Seed round was led by a follow-on investment from ENZA Capital, with participation from Seedstars International Ventures and Norrsken Africa Fund. Including this round and earlier financings, Gigmile has now raised approximately $21 million in combined debt and equity, funding the rollout of thousands of vehicles and supporting continued expansion of its leasing operations.

OEM partnerships strengthen last-mile reliability
A key factor behind Gigmile’s growth has been its partnerships with vehicle manufacturers. The company works with four of the five leading global light vehicle OEMs—Yamaha, TVS, Bajaj and Hero—to supply vehicles suited to African road conditions and high-intensity gig work. These partnerships support fleet durability, simplify maintenance and help standardise operating costs, all of which are critical for last-mile logistics reliability.

By bundling vehicle access with insurance, maintenance, repairs and regulatory documentation, Gamma Mobility reduces downtime for riders and improves delivery consistency for logistics and e-commerce platforms that depend on last-mile operators.

Clean mobility pilots and future verticals
While gig worker financing remains Gigmile’s primary focus, the company is preparing to expand into additional verticals, including personal mobility leasing for salaried professionals and embedded financial services such as bill payments and savings products. Clean mobility is also emerging as a strategic area of exploration.

Insights from Gigmile’s 2025 Impact Report point to the potential of electric motorcycles to reduce operating costs, improve rider earnings and lower emissions, while highlighting the need for context-specific deployment models. To test viability, Gigmile has partnered with Siemens Stiftung under the E-Mobility 4 Impact programme to pilot electric motorcycles in Lagos and Accra. The pilots are assessing vehicle performance, range, charging versus battery-swapping systems, delivery use cases and the impact on rider income in real-world delivery environments, where daily travel can reach up to 180 kilometres.

Strengthening Africa’s last-mile logistics ecosystem
Gigmile’s growth reflects broader shifts in Africa’s logistics and supply-chain landscape, where last-mile delivery is increasingly central to digital commerce and urban mobility. By linking vehicle access to income generation and embedding financial services into logistics operations, the company illustrates how asset-backed fintech models can support both delivery efficiency and financial inclusion. Recently, Gamma Mobility has also partnered with the government-backed Nigerian Consumer Credit Corporation (CREDICORP) to support 10,000 women in the mobility sector.

With approximately $21 million raised to date, continued asset deployment and backing from a mix of venture, institutional and strategic investors, Gigmile is part of a growing cohort of platforms shaping the future of last-mile logistics in Africa’s rapidly evolving urban economies.