Moove, an African mobility fintech that provides vehicle financing to ride-hailing and delivery drivers, has secured $100 million in Series B funding, led by ride-hailing giant Uber. This investment, which values Moove at $750 million, will fuel the company’s expansion into new markets and solidify its position as a leader in the African mobility sector.
Moove’s innovative approach to vehicle financing has disrupted the traditional lending landscape. By offering flexible financing options and leveraging technology to assess creditworthiness, Moove empowers drivers to access affordable vehicles and build sustainable livelihoods.
This investment marks a significant milestone for Moove and further strengthens its partnership with Uber. By supporting Moove’s growth, Uber aims to ensure a steady supply of drivers for its ride-hailing platform and contribute to the development of a more sustainable transportation ecosystem in Africa.
Moove is committed to expanding its EV fleet and promoting sustainable mobility solutions across its markets. While challenges such as fluctuating fuel prices and economic instability persist, Moove is actively addressing these issues through initiatives like fuel subsidy programs and flexible payment options for drivers.
Looking ahead, Moove plans to leverage this funding to expand its operations into new markets, diversify its product offerings, and continue to innovate within the evolving mobility landscape.
