Moove Redefines Mobility with Autonomous Vehicle Focus

What started as a solution for Nigerian gig drivers has evolved into a global autonomous mobility play. Moove, now valued at $2.1 billion after securing a $250 million Series C round from Mubadala, is pivoting away from its driver-centric roots.

The company initially gained traction by financing vehicles for ride-hailing platforms like Uber in Lagos and across Africa. This “drive-to-own” model helped drivers acquire assets while building credit history. With 42,000 vehicles financed to date, Moove became Africa’s most valuable mobility startup.

The Autonomous Opportunity

Moove’s strategic shift began in early 2023 with the realization that autonomous vehicle (AV) ecosystems create new infrastructure needs. While AV developers focus on software and marketplaces prioritize matching riders with drivers, nobody wants to handle the physical operations of vehicles—charging, cleaning, maintenance, etc.

“We resolved to create a product where we own, operate, and orchestrate autonomous vehicles,” explains Moove co-founder Ladi Delano. The company is now Waymo’s fleet operations partner in Phoenix, Miami, and soon London, managing AV fleets rather than driver interactions.

Operational Expertise Meets New Demand

The irony isn’t lost on observers: the same company that helped Nigerian drivers acquire vehicles is now deploying capital outside Africa to build autonomous infrastructure. This transition leverages Moove’s hard-won operational discipline—honed through navigating chaotic traffic, currency volatility, and credit challenges in Lagos—precisely the skills needed for successful AV rollouts.

Moove plans to expand its autonomous workforce from 150 to 500 by year-end and is developing automated “Nest” depots for round-the-clock vehicle maintenance. While the company already owns robotaxis (from an undisclosed developer), it ultimately aims to manage hundreds of thousands of vehicles globally.

Addressing Current Challenges

The shift arrives as Moove’s original driver financing model faces scrutiny in Nigeria, where labor unions have accused the company of exploitative practices and vehicle seizures. While Uber has publicly distanced itself from these concerns, they highlight the complexities of platform-based mobility models.

Moove maintains its traditional business is on track for profitability this year, generating $420 million in annual recurring revenue across 29 cities in 13 countries. However, leadership clearly believes the greatest growth potential lies in autonomous operations.