What is Moove?
Founded in 2019, Moove Africa operates as a specialized fintech platform that provides vehicle financing and leasing solutions tailored specifically for ride-share drivers. By addressing the significant barrier to entry for drivers who lack access to traditional credit, the company facilitates sustainable income generation for thousands of individuals across the continent. Its business model is deeply integrated into the gig economy, effectively transforming the mobility landscape by enabling drivers to own their vehicles through a revenue-based repayment structure. This approach not only empowers the workforce but also creates a robust, data-driven asset class that has attracted significant interest from global institutional investors.
How much funding has Moove raised?
Moove has raised a total of $654.1M across 10 funding rounds:
Angel/Seed
$5.2M
Multiple Rounds
$204.9M
Other Financing Round
$8M
Debt
$76M
Debt
$10M
Series B
$100M
Angel/Seed (2019): $5.2M, investors not publicly disclosed
Other Financing Round (2022): $10M led by NBK Capital
Series A (2022): $128M supported by Left Lane Capital, DCM Ventures, Clocktower Technology Ventures, Speedinvest, LocalGlobe, and thelatest.ventures
Debt (2022): $20M featuring British International Investment
Other Financing Round (2022): $16.9M backed by Emso Asset Management
Debt (2022): $30M with participation from Franklin Templeton
Other Financing Round (2023): $8M, investors not publicly disclosed
Debt (2023): $76M supported by Mubadala and BlackRock
Debt (2024): $10M featuring Stride Ventures
Series B (2024): $100M backed by Mubadala and Uber
Key Investors in Moove
Mubadala
Mubadala is a global investment company based in Abu Dhabi, mandated to create sustainable financial returns through a diversified and globally integrated economy.
Uber
Uber Technologies is a global technology platform that reimagines mobility and logistics, connecting a vast ecosystem of riders, drivers, and merchants through digital innovation.
Left Lane Capital
Left Lane Capital is a New York-based growth equity firm that partners with high-growth consumer internet and technology companies to build category-defining businesses.
What's next for Moove?
With the successful closure of its Series B round, Moove Africa is poised to enter a new phase of operational maturity. The strategic focus will likely shift toward deepening its technological infrastructure and expanding its footprint into new geographic markets. Given the involvement of strategic partners like Uber, the company is expected to leverage these synergies to optimize its vehicle-financing algorithms and enhance its risk management capabilities. As the firm moves beyond its initial scaling phase, the emphasis will remain on maintaining high repayment rates while navigating the complexities of emerging market credit environments. The continued support from global asset managers suggests a long-term commitment to Moove Africa's mission of democratizing vehicle ownership through innovative financial technology.
See full Moove company page
