Mobility fintech startup Moove raised $100 M Series B funding, valued at $750 M

Moove is a mobility fintech company based in Nigeria that democratizes access to vehicle ownership for mobility entrepreneurs. The company was valued at US $750 million and has raised US $100 million in a Series B funding round, bringing its total raised capital to over US $460 million.

Moove was established in 2020 with the goal of providing 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 throughout Africa, the Middle East, Europe, and Asia. To date, 20,000 customers have driven more than 30 million miles in Moove-financed vehicles.

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. In addition to existing investors Mubadala and Uber, it has raised an additional US $100 million in funding through its Series B. Also valued at US $750 million in this round is Moove.

By the end of 2025, Moove plans to use the funds to broaden its revenue-based vehicle financing offering, which is customer-focused, to 16 markets worldwide. In order to create a more accessible and sustainable mobility ecosystem for its global customer base, a significant amount of this expansion will be devoted to electric vehicles or EVs.

“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.

“This validation from Uber and others stands as a testament to the fact that what was once a dream is now a palpable reality. This infusion of capital is set to amplify the immensely positive impact our products have in the lives of our customers on a much broader spectrum. I would like to extend my heartfelt gratitude to our dedicated team of Moovers for their relentless effort and commitment, which has been pivotal in reaching this significant milestone on our company’s journey.”