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Moove is a technology company.
Moove operates as a global mobility fintech company, specializing in revenue-based vehicle financing for mobility entrepreneurs. The company provides a unique financing model that enables individuals to access new vehicles for ride-hailing, logistics, and other transportation services. This approach leverages vehicle earnings to facilitate ownership, thereby democratizing access to financial services and essential assets within the mobility sector. Moove is also actively building out a substantial fleet of hybrid and electric vehicles, reflecting a commitment to sustainable transport solutions.
The company was founded by Ladi Delano and Jide Odunsi, who established Moove in 2020. Their shared insight stemmed from recognizing the significant barrier to vehicle ownership faced by aspiring mobility entrepreneurs, particularly in emerging markets, due to traditional credit assessment limitations. They devised a financing structure that considers earning potential rather than conventional credit scores, originating in Africa before expanding globally.
Moove primarily serves mobility entrepreneurs who utilize platforms such as ride-hailing and last-mile delivery services. The company's vision centers on empowering these individuals by providing the tools necessary for economic opportunity and sustainable livelihood. It aims to become the leading provider of asset finance for a large, productive, and increasingly green global fleet, fostering financial inclusion and accelerating the transition to electric vehicles in the mobility space.
Moove has raised $390.9M across 9 funding rounds.
Moove has raised $390.9M in total across 9 funding rounds.
Moove is a global mobility fintech company founded in 2019 or 2020 that provides revenue-based vehicle financing and comprehensive fleet solutions to underserved mobility entrepreneurs in ride-hailing, logistics, mass transit, and instant delivery sectors.[1][2][3] Its flagship Drive-to-Own (DTO) product uses proprietary technology integrating alternative credit scoring with ride-hailing and fleet management systems, enabling drivers to access vehicles and own them over time without traditional collateral.[1][2] Serving operators in 12 cities across Africa, the Middle East, Europe, Asia, and Latin America—with U.S. expansion underway—Moove addresses vehicle access barriers in the $160 billion ride-hailing market while committing to 50% gender equality, 60% clean energy via hybrid/EV fleets, and 100% financial inclusion.[1][3] The company has shown strong growth, raising over $105M in Series A funding in 2022, achieving $115M in revenue, and partnering for autonomous vehicles like Waymo.[1][4]
Moove was founded in 2019 (or 2020 per some sources) in Lagos, Nigeria, by co-CEOs Ladi Delano and Jide Odunsi, with headquarters now in Dubai, UAE.[1][2] The idea emerged to solve acute vehicle financing gaps for the 5 million ride-hailing drivers worldwide lacking options, starting with a focus on revenue-based financing tied to drivers' earnings from platforms like Uber or Bolt.[1][2] Early traction came rapidly: from launch, it scaled to operations in 12 cities, secured $105M in Series A funding in March 2022 for Asia, Europe, and MENA expansion, and followed with $30M Sukuk for UAE, £15M for UK EV fleet, plus partnerships like Reliance for health insurance and Paua for EV charging.[1][4] Pivotal moments include its 2023 impact report and U.S. entry targeting autonomous mobility, transforming it from a Nigerian startup into a global fleet powerhouse.[1][4]
Moove rides the mobility-as-a-service (MaaS) wave, blending fintech with transportation amid rising demand for EVs, autonomy, and inclusive financing in a $160B ride-hailing market projected to see autonomous fleets hit $87B by 2027.[1] Timing is ideal: post-pandemic urbanization, driver shortages, and ESG pressures favor its revenue-linked model over asset-heavy rivals, especially in emerging markets where 5M drivers lack financing.[1][2] Market forces like EV adoption subsidies, Waymo partnerships, and regulatory pushes for greener fleets amplify its edge, while it influences the ecosystem by embedding finance into platforms, boosting women entrepreneurs, and pioneering sukuk funding for Islamic markets.[1][3][4]
Moove's trajectory points to U.S. dominance via autonomous fleets and further EV scaling, potentially capturing share in a maturing MaaS sector as regulations ease for shared autonomy.[1] Trends like AI-driven credit scoring, global electrification, and gig economy formalization will propel it, evolving its influence from financier to full-stack mobility operator with sustained funding momentum.[1][4] As the pioneer digitizing fleets for the underserved, Moove exemplifies how fintech unlocks mobility's next era, starting from Nigeria's streets to worldwide roads.
Moove has raised $390.9M in total across 9 funding rounds.
Moove's investors include Uber, AfricInvest, Future Africa, Palm Drive Capital, thelatest.ventures, Triatlum Advisors, Ishpreet Gandhi, Sean Dunne, Mohieddine Kronfol, Emso Asset Management, Nick O’Donohoe CMG, Dan Ahrens.
Moove has raised $390.9M across 9 funding rounds. Most recently, it raised $100.0M Series B in March 2024.