Nigeria-based mobility fintech startup Moove has raised US$20 million in funding from the UK government’s development finance institution (DFI) British International Investment (BII), formerly known as CDC Group. 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 funding brings the total raised by the startup to just short of US$200 million. This will also alleviate one of the key blockages to the development of ride-hailing transportation infrastructure in Nigeria’s commercial capital. “We’re incredibly proud to welcome onboard a world-class partner such as BII, whose strategic support will play a key role in our mission to build the world’s largest integrated vehicle financing platform for mobility entrepreneurs,” said Delano.

Source: The North Africa Journal July 01, 2022 16:37 UTC