Moove

Overview

Moove is an African-born, global mobility fintech company that provides revenue-based vehicle financing to mobility entrepreneurs. Founded in 2020 by Ladi Delano and Jide Odunsi, Moove aims to democratize access to vehicle ownership for individuals typically excluded from traditional financial services. With headquarters initially in Lagos, Nigeria, the company is now expanding globally, operating in markets across Africa, Europe, the Middle East, and Asia. As of 2025, Moove has raised significant funding from various investors including Uber and Mubadala, contributing to its valuation approaching $1 billion.

Recent Developments

June 2025: Moove announced a plan to raise $300 million in equity funding. This capital will support its aim to become a unicorn, propelling its valuation beyond $1 billion. Moove's revenue reportedly increased threefold to $360 million annually.
January 2025: Moove completed the acquisition of Kovi, a Brazilian urban mobility provider, marking a strategic expansion into Latin America.
2024: The company raised $100 million in a Series B funding round, led by Uber and Mubadala, at a $750 million valuation. This fundraising will aid Moove's expansion into 16 markets globally by the end of 2025.
2024: Moove partnered with Waymo, Alphabet's self-driving division, to manage and operate fleets of autonomous vehicles in Phoenix and Miami.
2024: Introduced its first Impact Report highlighting environmental, social, and governance (ESG) initiatives and financial inclusion efforts for mobility entrepreneurs.
April 2024: Moove raised $10 million in debt funding from Stride Ventures.
August 2023: Secured $66 million in Series B funding led by Mubadala, focusing on scaling operations and introducing more electric vehicles into its fleet.

Attribute	Information
Founding Date	2020
Headquarters	Lagos, Nigeria, with expansions and headquarters in the UAE
Founders	Ladi Delano, Jide Odunsi
Revenue	$360 million (annualized as of 2025)
Profits	Undisclosed; however, aiming for profitability by the next financial year
Key Investors	Uber, Mubadala, BlackRock, Franklin Templeton, Janus Henderson
Industry	Fintech, Mobility
Number of Employees	2,100 globally
Major Products/Services	Drive-to-own vehicle financing, fleet management for autonomous vehicles
Major Markets	Africa, Middle East, Europe, Asia, expanding into North and Latin America

Early History

Founded in 2020, Moove emerged in response to vehicle financing challenges faced by African gig workers. Initially focused on Lagos, Nigeria, the fintech quickly expanded across major African cities such as Johannesburg, Accra, Cape Town, and Nairobi. Its revenue-based model, which aligns repayment with driver income, provided a viable alternative to traditional financing, opening pathways for vehicle ownership among underserved populations. Early funding rounds, including significant backing from Uber, laid the groundwork for Moove’s ambitious global expansion.

Company Profile and Achievements

Moove’s business model is primarily built around providing vehicle financing using a unique revenue-based repayment structure. Rather than traditional credit scoring, Moove leverages mobility entrepreneurs' earnings to determine creditworthiness, minimizing risk for both the company and its clients. Key achievements include:

Establishing partnerships with ride-hailing platforms like Uber, enhancing access for drivers.
Expanding rapidly to operate in 13 markets globally, integrating sustainability through electric vehicle introductions.
Raising over $750 million in funding, reflecting confidence in its innovative financial model and strategic vision.
A landmark partnership with Waymo to manage autonomous vehicle fleets, positioning Moove as a key player in future urban mobility solutions.
Continual recognition as a leading mobility fintech within the African startup ecosystem, aiming to enhance financial inclusion and sustainable economic empowerment.

Current Operations and Market Position

Currently, Moove manages a diverse vehicle financing portfolio and fleet management services for ride-hailing platforms globally. The company’s operations span multiple continents, with significant presence in emerging markets. As it expands, Moove aims to not only improve access to vehicle ownership but also contribute to sustainable urban mobility through electric vehicle integrations and AI-enhanced fleet management. Moove's competitive advantages include its strategic partnerships and innovative financing model, enabling it to tap into varied international markets.

Conclusion

Moove has established itself as a pivotal entity within the fintech and mobility sectors, leveraging innovative, inclusive financing methods to expand globally. With a strong focus on sustainability and financial empowerment, Moove's trajectory indicates continued growth and an expanding role in autonomous and electric vehicle markets. The company’s future efforts will likely cement its status not only as a fintech powerhouse in Africa but a formidable global mobility leader.