Moove, the Nigerian-born mobility fintech, is making waves in the global mobility scene. Founded in 2020 by Ladi Delano and Jide Odunsi, the startup has reimagined asset financing for ride-hailing drivers. Now, Moove is gearing up for its next major leap: a $300 million Series C funding round that could elevate it to an elusive $1 billion valuation—landing the company firmly in unicorn territory, according to The Information
A Revolutionary Model in Vehicle Financing
At its core, Moove’s model is elegantly simple yet impactful—drivers gain access to cars through a revenue-based repayment structure, with monthly payments tied directly to their ride-hailing income. This approach tackles the formidable barriers many gig workers face when qualifying for traditional loans—high interest rates, inflexible repayment schedules, and access limitations.
Since its launch, Moove has demonstrated rapid traction. Annual revenue has skyrocketed from $115 million to $360 million, translating to approximately $30 million per month, driven by growing demand across emerging markets. Today, Moove operates in 13 countries spanning Africa, Latin America, the Middle East, India, and the UK, with its next frontier being the United States.
Breaking Ground in the U.S. via Waymo
One of Moove’s most transformative steps is its recent partnership with Waymo, Alphabet’s autonomous vehicle initiative. Starting in Phoenix, and soon expanding to Miami, Moove has taken charge of charging, cleaning, and maintaining Waymo’s self-driving electric vehicles. This marked Moove’s entrance into the U.S. mobility infrastructure domain—a strategic extension beyond driver financing. As Waymo rolls out more extensive operations, Moove is positioning itself as a key logistics partner, ensuring planetary-scale scalability for autonomous fleets.
Strategic Acquisitions and Expanding Reach
In January 2025, Moove acquired Kovi, a Brazilian mobility-finance platform, deepening its presence in Latin America and solidifying its global asset base. This acquisition is part of a broader strategy that leverages regional strengths to fortify its competitive edge worldwide. With over 2,100 employees, including nearly 90 new hires in the U.S., Moove is building a transcontinental infrastructure capable of supporting autonomous fleets and continued market expansion.
Why the $300 million Raise Matters
- Unicorn Milestone
A successful raise would crown Moove with a $1 billion valuation—joining ranks with other notable African tech unicorns like Flutterwave and Andela. This recognition highlights global investor interest in African-led innovation and Moove’s potential for scale. - Expanding EV and Robotaxi Participation
Funds from the round are earmarked for expanding operations in electric-vehicle financing and robotaxi fleet management, including support for mini-fleet leasing to entrepreneurs and small-business operators. - Deepening Infrastructure Capacity
Moove plans to build more depots, charging hubs, and support services for autonomous vehicles, reinforcing their role as a backbone for next-gen mobility. - Disciplined Growth Strategy
With backing from investors like Uber—now a minority stakeholder—and Mubadala, Moove’s growth has been calculated and revenue-driven. This fund round is expected to accelerate scale, not dilutive experimentation, anchoring Moove as a sustainable enterprise.
Redefining Mobility Access
Beyond metrics and partnerships, Moove’s initiatives have real-world impact. Thousands of gig drivers—who once were locked out of vehicle ownership—now drive their own cars under a transparent, income-aligned payment structure. The company’s traction in electric vehicles also contributes to cleaner urban transport ecosystems.
But Moove’s ambitions extend further. Its expansion into reliable infrastructure for autonomous fleets showcases a broader vision: to be both a tool for driver empowerment and a critical enabler of future mobility.
Looking Ahead
As Moove navigates its fundraising journey, it faces both immense opportunity and obstacles:
- Market competition, especially from ride-hailing players in Africa like Bolt and inDrive.
- Capital risks, as mobility infrastructure remains capital-intensive.
- Economic fluctuations, especially in nascent markets like Nigeria.
Yet, the company’s robust metrics, strategic partnerships, and disciplined growth philosophy position it well. If it crosses the $1B valuation threshold and continues its US runway, Moove could redefine how vehicle financing and fleet infrastructure intertwine—leading the charge in global ride-hailing, electric mobility, and autonomous vehicle operations alike.
The Takeaway
Moove’s journey from a Nigerian startup helping ride-hailing drivers afford vehicles, to a rising global operator in autonomous vehicle logistics, is nothing short of transformative. With a promising new funding round and a track record of thoughtful expansion, Moove is not just chasing unicorn status—it’s building systems that could power tomorrow’s mobility.
