Moove Africa 2024

Moove, a global mobility fintech, has made headlines with its recent $100 million Series B funding round, which has elevated its valuation to $750 million. This significant achievement underscores the growing recognition of Moove’s innovative approach to financing vehicle ownership for mobility entrepreneurs. Founded in Nigeria, Moove’s vision is to democratize access to vehicle ownership, particularly for those underserved by traditional financial institutions. Their revenue-based financing model, which assesses creditworthiness based on drivers’ earnings on platforms like Uber, has proven to be a game-changer.

The recent funding was spearheaded by a strategic partnership with Uber, alongside continued support from existing investors such as Mubadala, the Abu Dhabi-based sovereign investment fund. This partnership not only validates Moove’s business model but also sets the stage for deeper integration within the global mobility ecosystem.

With plans to expand into 16 markets by 2025, focusing heavily on electric vehicles (EVs), Moove is positioning itself as a leader in sustainable mobility. Their commitment to sustainability is further exemplified by their initiatives in the UAE, where they launched a fully integrated charging solution and facilitated the highest number of EV trips on Uber’s UAE platform in 2023. As Moove continues to empower mobility entrepreneurs, their focus on customer-centricity, sustainability, and profitability ensures they remain at the forefront of the mobility fintech revolution.