Gigmile

Gigmile is a mobility fintech and asset-financing company serving gig workers in West Africa. Its flagship platform, Gamma Mobility, provides lease-to-own financing for motorcycles, tricycles, cars and personal commuting vehicles to delivery riders, ride-hailing drivers and logistics workers who are typically excluded from bank lending because they lack collateral, credit history or formal documentation. Each lease bundles insurance, maintenance, repairs and licensing, and daily repayments are capped at roughly one-third of a rider's expected earnings.

Beyond vehicle financing, the company sells insurance and maintenance packages, issues microloans, and rents fleets of equipped riders to logistics and delivery businesses, charging corporate clients for access to drivers and vehicles while managing maintenance and labour logistics. Underwriting relies on vehicle usage data, trip regularity and integrated payment flows rather than traditional credit scores. Product areas in development include personal mobility leasing for salaried professionals, embedded finance products such as bill payments and savings tools, and electric and CNG vehicle pilots.

Founding story

Kayode Adeyinka and Samuel Esiri, both former Jumia country managers, founded the company in 2022 after observing that drivers in West Africa could not afford vehicles without delivery work and could not obtain delivery work without vehicles, while banks required collateral gig workers did not have. Adeyinka previously served as Jumia's country manager in Ghana and worked at Bank of America and Deloitte in the United Kingdom.

Business model

Gigmile earns recurring payments from gig workers using vehicles under rent-to-own contracts and subscription plans, and adds revenue from insurance, maintenance packages and microloans. It also rents fleets of vehicles with riders to logistics and delivery companies, billing those corporate clients for access to labour and assets while handling maintenance and workforce logistics.

Recurring lease/subscription payments from riders, attached insurance and maintenance packages, microloan interest, and fees charged to corporate logistics and delivery clients for fleet-and-rider access.

Traction

More than 10,000 vehicles deployed, 8,500 active riders and 1,500 riders who have completed leases and own their vehicles outright. The 2025 Impact Report cites over 15,000 gig workers impacted, more than $18 million in financed assets deployed, over $2 million in monthly rider earnings, a 94% repayment rate, 95% vehicle utilisation, health insurance provided to 3,200 riders, and more than 45 million passengers moved in 2024.

Latest developments

Gigmile confirmed the close of its seed round and published its first Impact Report in late 2025. Yango Group's investment arm, Yango Ventures, took a stake in the company in December 2025. The IFC has disclosed that it is considering an equity investment of up to $4 million as part of a Series A round, with the company expecting to begin Series A conversations in early 2026. Stated targets include expansion into more than 15 new cities within a year and $100 million in financed mobility assets by 2027, alongside electric and CNG vehicle pilots.