Moove raised $100M in a Series B funding round led by Uber, with participation from Mubadala and other investors, reaching a valuation of $750M.
Moove raised $100M in a Series B funding round led by Uber, with participation from Mubadala and other investors, reaching a valuation of $750M.
03/19/24, 7:46 AM
Location
lagosMoney raised
$100 million
Industry
financial services
Round Type
series b
Investors
Future Africa, Triatlum Advisors, Palm Drive Capital, Afric Invest, The Latest Ventures, Mubadala, Uber
Moove, an African mobility fintech company, secured a $100 million Series B funding round led by Uber, along with sovereign wealth fund Mubadala and several other investors, resulting in a post-money valuation of $750 million. The funding will support Moove's expansion into new markets and its plans to introduce more than 20,000 electric vehicles (EVs) on Uber. Moove plans to use the new capital to expand its revenue-based vehicle financing platform to 16 markets by the end of 2025.
Company Info
Location
lagos, lagos state, nigeria
Additional Info
Moove is an African mobility fintech that is democratizing vehicle ownership by providing revenue-based vehicle financing to mobility entrepreneurs across Africa, where limited access to vehicle financing has resulted in the lowest per capita car ownership in the world. The company is Uber’s exclusive vehicle financing and vehicle supply partner in sub-Saharan Africa. For more information, visit https://moove.africa/ or contact press@moove.africa.