MOOVE
Moove, the global mobility fintech that democratises access to vehicle ownership for mobility entrepreneurs, today announces that it has raised $100 million in a Series B funding round, valuing the company at $750m. Uber invested in the round alongside Mubadala, who led Moove’s previous funding round in 2023.
The round will enable Moove to expand its customer focused revenue-based vehicle financing offering to 16 markets around the world by the end of 2025. A considerable portion of this expansion will focus on electric vehicles (EVs), which will lay the groundwork for a more sustainable and accessible mobility ecosystem for its customers worldwide.
Ladi Delano, Founder of Moove, said: “Today’s announcement marks a significant milestone for us. When we founded Moove in 2020, we were motivated to solve the acute shortage of vehicle financing that over two million African mobility entrepreneurs faced.
“This validation from Uber and others stands as a testament to the fact that what was once a dream is now a palpable reality. This infusion of capital is set to amplify the immensely positive impact our products have in the lives of our customers on a much broader spectrum. I would like to extend my heartfelt gratitude to our dedicated team of Moovers for their relentless effort and commitment, which has been pivotal in reaching this significant milestone on our company’s journey.”
Moove was founded in 2020 to connect mobility entrepreneurs with fair, accessible, and affordable revenue-based vehicle financing options. Now based in its new headquarters in the UAE, an emerging nexus for entrepreneurship and innovative startups, the evolving partnership between Moove and Mubadala stands as a prime example of how collaboration between local UAE investors and startups can catalyse growth and innovation both within the UAE and globally.
The UAE stands as a pivotal market for Moove, as it was the first market where Moove launched its fully integrated charging solution, investing in a network of charging stations exclusively for Moove customers. Additionally, the UAE was Moove's pioneer market for transitioning to a 100% EV fleet, leading to the company providing the largest number of EV trips on the Uber UAE platform in 2023. This strategic focus on sustainability and innovation underscores Moove's commitment to shaping the future of mobility in the region and supporting the UAE's vision for economic diversification and technological advancement.
To date, Moove has helped more than 20,000 mobility entrepreneurs across three continents, enabling more than 30 million Moove financed trips – resulting in an annual recurring revenue of over $115 million, a significant milestone on the path to profitability.
Ali Eid Al Mheiri, Executive Director of UAE Diversified Assets at Mubadala’s UAE Investments Platform, commented: “We are proud to continue supporting Moove through our second round of funding, not only as a testament to our commitment to nurturing the startup ecosystem in the UAE but also as a reflection of our renewed trust in Moove's vision and capabilities. This follow-on investment exemplifies Mubadala’s strategy of deploying capital to drive positive change in communities, in addition to fostering innovation and entrepreneurship across the UAE.”
Ladi Delano concluded: "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. This funding milestone not only expands our operational capacity but also supports our drive to profitability by the next financial year. We are committed to building Moove in a sustainable, customer focused and profitable way. Moove’s aim is to be at the forefront of the electrification of mobility, which we believe will help steer the world towards a zero-emission future."
BofA Securities acted as financial adviser to Moove.
About Moove
Moove is a global mobility fintech that is democratising access to financial services for mobility entrepreneurs. It does this by embedding its alternative credit scoring technology onto ride-hailing platforms, using proprietary performance and revenue analytics to underwrite customers that have previously been excluded from financial services. Moove operates in 9 markets across Africa, Middle East, Europe and Asia. Its customers have completed more than 30 million trips in Moove-financed vehicles to date.
Key facts
- Moove has positively impacted the lives of over 80,000 people, globally
- Moove has served over 20,000 Moove customers since its inception
- Over 30 million trips in Moove financed cars
- Over $250m equity raised, and over $210m debt funding raised since inception
- Achieved $115m ARR in 2023
Notes to the Editor
- Investors participating in the round include Uber as well as existing investors Mubadala, The Latest Ventures, Africinvest, Palm Drive Capital, Triatlum Advisors AG, and Future Africa.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240319308732/en/
About Business Wire
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Andersen Consulting udvider sit udbud af humankapital med tilføjelsen af Jakarta Consulting Group16.1.2026 21:09:00 CET | Pressemeddelelse
Andersen Consulting styrker sine kompetencer gennem en samarbejdsaftale med Jakarta Consulting Group (JCG), der er et rådgivningsfirma, som er kendt for sin ekspertise inden for organisatorisk transformation, humankapitalstrategi og ledelsesudvikling. Med hovedsæde i Indonesien har JCG rådgivet virksomheder inden for brancher som ejendom, minedrift og produktion gennem strategisk og kulturel transformation. Med kerneydelser, der omfatter virksomheds- og administrationsrådgivning, hr-rådgivning, vurdering samt virksomheds- og ledelsestræning, er virksomheden kendt for sin evne til at transformere virksomheder og ledere med agilitet, kulturel intelligens og handlingsorienterede løsninger. "Vi har altid ment, at bæredygtig transformation begynder med mennesker – når ledere udvikler sig, følger organisationer med," siger Patricia Susanto, CEO for Jakarta Consulting Group. "Ved at kombinere Andersen Consultings globale perspektiv med vores regionale indsigt kan vi tilbyde kunderne mere helh
ClickHouse Raises $400M Series D Led by Dragoneer to Accelerate Expansion Across Analytics and AI Infrastructure16.1.2026 15:30:00 CET | Press release
Company acquires Langfuse to enter LLM observability and introduces a native Postgres service to unify transactional and analytical workloads ClickHouse, a leader in real-time analytics, data warehousing, observability, and AI/ML, announced today the close of its Series D financing, raising $400 million. The round was led by Dragoneer Investment Group, with participation from Bessemer Venture Partners, GIC, Index Ventures, Khosla Ventures, Lightspeed Venture Partners, accounts advised by T. Rowe Price Associates, Inc., and WCM Investment Management. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20260116008883/en/ ClickHouse Co-Founders (left to right): Yury Izrailevsky, Aaron Katz, Alexey Milovidov The financing follows a period of sustained, accelerating growth for ClickHouse. The company now serves more than 3,000 customers on its fully managed service, ClickHouse Cloud, with ARR growing more than 250 percent year over year
Qualcomm Announces Quarterly Cash Dividend16.1.2026 15:00:00 CET | Press release
Qualcomm Incorporated (NASDAQ: QCOM) today announced a quarterly cash dividend of $0.89 per common share, payable on March 26, 2026, to stockholders of record at the close of business on March 5, 2026. About Qualcomm Qualcomm relentlessly innovates to deliver intelligent computing everywhere, helping the world tackle some of its most important challenges. Building on our 40 years of technology leadership in creating era-defining breakthroughs, we deliver a broad portfolio of solutions built with our leading-edge AI, high-performance, low-power computing, and unrivaled connectivity. Our Snapdragon® platforms power extraordinary consumer experiences, and our Qualcomm Dragonwing™ products empower businesses and industries to scale to new heights. Together with our ecosystem partners, we enable next-generation digital transformation to enrich lives, improve businesses, and advance societies. At Qualcomm, we are engineering human progress. Qualcomm Incorporated includes our licensing busine
Nominations open for The MIDORI Prize for Biodiversity 2026 by AEON Environmental Foundation and the Secretariat of the Convention on Biological Diversity16.1.2026 09:00:00 CET | Press release
The MIDORI Prize recognizes outstanding individual contributions to the conservation and sustainable use of biodiversityThe unique prize contributes to raising public awareness of the essential role biodiversity plays for human well-being and in addressing global challenges such as climate changeThe Award Ceremony and Award Winners Forum will be held on 27 August 2026 in Tokyo, Japan The call for nominations for The MIDORI Prize for Biodiversity 2026 is open from 2 February to 31 March 2026. Nominations are invited from members of the public through the AEON Environmental Foundation website at https://www.aeonkankyozaidan.or.jp/en/prize/. The Award Ceremony and Award Winners Forum of the 2026 edition of the Prize will be held on 27 August in Tokyo, Japan. These events will contribute to the global mobilization around COP 17 of the Convention on Biological Diversity (CBD), which will take place in Yerevan (Armenia) under the theme of “Taking action for Nature”. Co-organized by the AEON
Tigo Energy and Weco Certify MLPE-Inverter Compatibility to Simplify PV System Design16.1.2026 06:00:00 CET | Press release
Tigo MLPE technology and hybrid inverters of Italian manufacturer Weco are now certified to work together to enhance design flexibility, system performance, and seamless integration. Tigo Energy, Inc. (NASDAQ: TYGO) (“Tigo” or “Company”), a leading provider of intelligent solar and energy software solutions, today announced the Company has signed a certificate of compatibility with Weco S.r.l., documenting the compatibility between Tigo Flex MLPE products and hybrid solar inverters from Weco. The certification covers certain single-phase and three-phase Weco products and members of the Tigo TS4-A and TS4-X product families, when properly designed and installed. Together, these products are designed to deliver high-quality, enhanced value through a system that generates and manages solar energy more efficiently and delivers the features residential energy customers demand. “The compatibility between our inverter solutions and Tigo optimizers represents a significant step forward for the
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom