Moove, an African fintech company focused on mobility that helps mobility entrepreneurs acquire cars more easily, has raised $100 million in Series B funding at a valuation of $750 million.
Along with current investors Mubadala, The Latest Ventures, Africinvest, Palm Drive Capital, Triatlum Advisors AG, and Future Africa, Uber also participated in the round.
By the end of 2025, the company hopes to have expanded to 16 markets throughout the globe through the usage of the money.
Moove is a global mobility fintech company founded by Ladi Delano. It integrates alternative credit scoring technologies into ride-hailing platforms and uses revenue analytics and proprietary performance data to underwrite clients who were previously denied access to financial services.
It is active in nine markets in Asia, Europe, the Middle East, and Africa. To date, its clients have driven more than 30 million miles in cars that were funded by Moove.
“This recent investment is a game-changer for Moove, enabling us to substantially broaden our offerings by introducing 45,000 new vehicles to our platform,” Ladi Delano stated in response to the announcement, he further stated “This funding milestone helps us reach our goal of profitability by the end of the next fiscal year, while also increasing our operating capacity. Our goal is to develop Moove in a lucrative, customer-focused, and sustainable manner.”
