Nigeria’s mobility fintech company Moove, Uber’s largest vehicle supply partner in EMEA, has announced a further US$76 million in funding to fuel further global expansion. Founded in 2019 by British-born Nigerians Ladi Delano and Jide Odunsi, Moove is democratising vehicle ownership in Africa by providing revenue-based vehicle financing to mobility entrepreneurs. The startup is already extremely well-capitalised, both in terms of debt and equity investment, and it has now announced US$76 million in further funding to help it to continue to expand. Moove said it will use the funding to continue its mission to build the largest tech-driven financial services platform for mobility entrepreneurs and strengthen its position on the global stage. Faris Sohail Al Mazrui, head of ventures and growth at Mubadala, said Moove had built a highly scalable tech-enabled platform to serve mobility entrepreneurs globally by providing them access to credit and other financial services previously unavailable to them.

Source: The North Africa Journal August 14, 2023 12:02 UTC