Moove Raises $250M to Accelerate Autonomous Mobility Platform

Nigeria-based mobility fintech company Moove has announced a significant milestone with its $250 million Series C funding round, valuing the company at $2.1 billion. This latest investment will fuel the expansion of Moove’s autonomous vehicle business and support its vision to redefine urban mobility.

Democratizing Vehicle Access Through Tech

Founded in 2020 by Ladi Delano and Jide Odunsi, Moove addresses a critical gap in emerging markets by providing fair, accessible financing for mobility entrepreneurs. The company’s proprietary technology integrates with ride-hailing platforms to underwrite drivers who often lack traditional credit scores.

Rapid Growth Across Multiple Markets

Moove currently operates over 42,000 vehicles across 29 cities in 13 countries, generating $420 million in annual recurring revenue (ARR). The company has also partnered with Waymo to manage autonomous vehicle fleets in Phoenix and Miami, with London set to follow.

Strategic Investor Backing

The Series C round was led by Mubadala Investment Company, Woven Capital (Toyota’s growth fund), and Ion Pacific, with participation from BlueCrest Capital Management and Sona Capital. This brings Moove’s total funding raised to over $710 million.

Building Mobility Infrastructure for the Future

Moove CEO Ladi Delano emphasized that building robust infrastructure will be key to success in the autonomous mobility space, just as data centers were essential for the internet revolution. “We are focused on building the platform that will enable billions of autonomous journeys worldwide,” he stated.

With this new funding, Moove plans to expand its workforce by over 220%, invest in additional robotics infrastructure, and enter new markets as it continues to build the future of mobility.