Moove, a mobility fintech startup based in Nigeria, has raised $100 million in a Series B fundraising round. The total fund raised is now over $460 million, and the company is valued at $750 million.
Moove democratizes access to car ownership for mobility entrepreneurs.
Over US$460 million in total secured capital, including over US$250 million in equity and over US$210 million in debt, has been raised by the company through a series of successful fundraising rounds. Uber is one of the new investors in its $100 million Series B round, while Mubadala and other current investors are also participating. Moove is likewise valued at US$750 million in this round.
Moove was founded in 2020 to provide revenue-based vehicle financing options that are equitable, accessible, and affordable for mobility entrepreneurs. The company integrates its alternative credit scoring technology into ride-hailing platforms and uses revenue analytics and proprietary performance data to underwrite customers who were previously denied access to financial services.
With its headquarters currently located in the United Arab Emirates (UAE), Moove operates in nine markets in Africa, the Middle East, Europe, and Asia.
So far, 20,000 customers have driven more than 30 million miles in Moove-financed vehicles.
“Today’s announcement marks a significant milestone for us. When we founded Moove in 2020, we were motivated to solve the acute shortage of vehicle financing that over two million African mobility entrepreneurs faced,” said Ladi Delano, founder of Moove.
By the end of 2025, Moove plans to use the funding to bring its customer-focused, revenue-based car lending product to 16 regions worldwide.
Electric vehicles (EVs) will be a major emphasis of this expansion, helping to provide the foundation for a more accessible and sustainable mobility ecosystem for its global client base.
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