Moove Eyes Unicorn Status with $300M Raise Amid U.S. Expansion
TLDR
- Moove, the Nigerian mobility fintech backed by Uber, is seeking to raise $300 million in new funding, potentially pushing its valuation above $1 billion
- The raise would mark a major milestone for the company, whose fleet-financing model for ride-hailing drivers is scaling rapidly across continents
- Moove has raised $750 million to date in a mix of debt and equity from investors including Mubadala and Uber, which holds a >10% stake
Moove, the Nigerian mobility fintech backed by Uber, is seeking to raise $300 million in new funding, potentially pushing its valuation above $1 billion, according to The Information. The raise would mark a major milestone for the company, whose fleet-financing model for ride-hailing drivers is scaling rapidly across continents.
The fundraising comes as Moove deepens its footprint in the autonomous vehicle (AV) space. Through a partnership with Waymo, Alphabet’s self-driving unit, Moove manages operations for electric robotaxis in Phoenix and Miami, including cleaning, charging, and storage. The company recently hired 90+ staff in the U.S. and now employs over 2,100 people globally.
Moove has raised $750 million to date in a mix of debt and equity from investors including Mubadala and Uber, which holds a >10% stake. A 2024 round valued the company at $750 million.
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Points clés à retenir
Founded by Ladi Delano and Jide Odunsi, Moove has evolved from financing Uber drivers in Africa and emerging markets to becoming a critical player in AV fleet operations. Its “drive-to-own” model allows gig workers to purchase vehicles using their earnings. The company now operates in Africa, India, the UK, and the U.S.. Moove’s annualized revenue has surged to $360 million, up from $115 million a year ago, driven by global fleet expansion and its acquisition of Brazilian mobility firm Kovi in January 2025. Monthly revenue now averages $30 million. Beyond servicing Waymo’s robotaxis, Moove plans to buy AV-enabled cars directly from manufacturers and lease mini-fleets to small businesses or former ride-hailing drivers, offering services from financing to depot operations. The $300M raise, if successful, would position Moove as Africa’s newest unicorn and one of the few African startups with significant U.S. operations in the autonomous vehicle sector.
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