Moove company profile: valuation, funding & revenue

This Moove company profile covers the company's valuation, revenue, funding rounds, investors and history. Moove works in fintech and mobility, with a focus on vehicle financing and fleet operations for ride-hailing. It was founded in 2020 and is headquartered in Lagos, Nigeria. Its latest valuation on record is About US$2.1 billion (August 2026). Every figure links to a public source, and anything the company hasn't disclosed is marked as such.

Revenue

Funding history

Moove timeline

Key dates from the sources on this page, oldest first. Metric snapshots are listed after the funding events.

• 2020 — Moove is founded in Lagos by Ladi Delano and Jide Odunsi.
• Aug 2023 — Equity and debt round: See source, valuing the company at US$550M. Investors: Mubadala (lead).
• Mar 2024 — Series B: US$100M, valuing the company at US$750M. Investors: Uber (lead); existing investors.
• Aug 2026 — Series C: US$250M, valuing the company at About US$2.1B. Investors: Mubadala (lead); Woven Capital, Ion Pacific (co-leads).
• 2025–2026 — Reported Series C: A US$250 million Series C led by Tiger Global was reported at a valuation of about US$2.1 billion.

Investors

Overview

Moove helps ride-hailing and delivery drivers get vehicles. Many drivers in emerging markets can't get car loans from banks because they lack credit histories or collateral. Moove buys vehicles and provides them to drivers through a revenue-based financing model: drivers repay from a share of their weekly earnings on platforms such as Uber, and after a set period they own the vehicle outright. Moove uses data from ride-hailing platforms to assess drivers' performance and manage risk. It has expanded from Nigeria to many countries across Africa, Europe, the Middle East, Asia and the Americas, and has started operating fleets of autonomous vehicles for Waymo.

Ladi Delano and Jide Odunsi founded Moove in 2020. Both are Nigerian entrepreneurs. Moove is often described as based in Lagos, with operations and leadership across several countries.

How the model works

• Vehicle acquisition: Moove buys cars, often electric or hybrid, in bulk.
• Driver selection: it uses platform data, such as ratings, hours and earnings, to select drivers.
• Revenue-based repayment: drivers repay through deductions from their earnings rather than fixed monthly payments.
• Ownership: after the financing period, drivers own the vehicle.
• Maintenance and insurance: Moove often bundles servicing and insurance to protect the asset.
• Autonomous fleet operations: managing, cleaning, charging and maintaining Waymo's robotaxi fleets in cities such as Phoenix and Miami.

Funding

Moove raised a mix of equity and debt, because financing vehicles requires large amounts of capital. In August 2023 a round led by Mubadala valued it at about US$550 million. In March 2024 Uber led a US$100 million Series B, its first investment on the African continent, at a US$750 million post-money valuation. Reports in 2025 said Moove was raising a larger round at about US$2 billion, and a US$250 million Series C led by Tiger Global, with Uber, Mubadala, BlackRock and Prosus Ventures, was reported at about US$2.1 billion. Because we couldn't confirm the Series C's date and terms from primary sources, we use the March 2024 figure and list the reported Series C separately.

Business model

Moove earns returns on vehicle financing, similar to a lender, along with income from bundled services and fees for fleet operations, including its work for Waymo. Its profitability depends on drivers' earnings, vehicle utilisation, resale values and its cost of capital. The company doesn't publish revenue, so we show it as not disclosed.

Competition

Moove competes with vehicle financing companies, leasing firms and rental fleets that supply ride-hailing drivers, such as Splend and others in various markets, and with asset financing fintechs in Africa such as M-KOPA, which finances motorcycles and phones. In autonomous fleet operations, it competes with other fleet management companies and with robotaxi operators' in-house teams.

Moove at a glance

Moove is a mobility fintech founded in 2020 by Ladi Delano and Jide Odunsi, often described as Lagos-based. It finances vehicles for ride-hailing drivers through revenue-based repayment and manages Waymo robotaxi fleets. Uber led its US$100 million Series B at a US$750 million valuation in March 2024, and a later Series C was reported at about US$2.1 billion.

Timeline

• 2020: founded; launches in Lagos with Uber drivers.
• 2021–2022: expands to other African countries, the UK, India and the Middle East.
• August 2023: raises at about US$550 million, led by Mubadala.
• March 2024: raises US$100 million at US$750 million, led by Uber.
• Late 2024 onwards: begins operating Waymo fleets in the US.
• 2025–2026: reported Series C at about US$2.1 billion.

Why driver financing matters

Ride-hailing creates income opportunities for millions of people, but drivers need access to a reliable vehicle. Renting a car weekly can be expensive and builds no ownership, while buying requires credit many drivers don't have. Revenue-based financing aligns repayments with what drivers earn, and ownership gives them a long-term asset. Ride-hailing platforms benefit because more drivers with good vehicles means better service, which is why Uber invested.

From drivers to robotaxis

Autonomous vehicles still need human support: cleaning, charging, inspection, maintenance and depot management. Robotaxi companies such as Waymo have partnered with fleet operators so they can expand into new cities faster. Moove's experience managing large fleets of ride-hailing vehicles made it a natural partner. This business could grow significantly as robotaxis expand, and it diversifies Moove beyond driver financing.

Risks

• Driver earnings: lower demand or platform changes reduce drivers' ability to repay.
• Currency and inflation: emerging market currencies can lose value quickly.
• Vehicle values: resale prices and EV battery costs affect returns.
• Capital needs: growth requires continuous debt and equity funding.

Who uses Moove

Moove's customers are full-time ride-hailing and delivery drivers who want to own a vehicle but can't access traditional car loans. Many are new to formal credit. Platforms such as Uber help Moove reach drivers and provide earnings data, while Waymo uses Moove's fleet operations to expand its robotaxi service.

Electric vehicles and drivers

Moove has emphasised electric and hybrid vehicles in markets where charging is available, because lower fuel and maintenance costs can raise drivers' take-home pay and help them repay faster. Electric vehicles also help ride-hailing platforms meet their emissions targets. The challenge in many emerging markets is limited charging infrastructure and higher upfront vehicle prices, which Moove's financing model helps spread over time.

Questions for drivers

• What share of weekly earnings goes to repayment, and for how long?
• What happens if earnings fall or the vehicle needs major repairs?
• When does ownership transfer to the driver?

Valuation context

Moove's valuation rose from about US$550 million in 2023 to US$750 million in 2024, and a later round was reported at about US$2.1 billion, reflecting investor interest in its autonomous vehicle operations as well as its lending business.

Latest developments (October 2026)

Moove raised a US$250 million Series C in August 2026 at about US$2.1 billion, led by Mubadala and co-led by Toyota's Woven Capital and Ion Pacific, taking total funding above US$710 million, according to Nairametrics. In October 2026 Moove said it would end its operations in Nigeria, where it started, and transfer vehicles to eligible drivers, as it focuses on other markets and autonomous vehicle fleets. This supersedes the 2024 valuation described earlier on this page.

What to watch

Watch confirmation of new funding, expansion of autonomous fleet operations, credit performance and geographic expansion. Our guide to the largest African startups gives wider context.

Takeaways

Ride-hailing drivers can work towards owning a vehicle through earnings-based payments. Founders can see how platform data enables new credit models. Investors should watch whether autonomous fleet operations become a major growth driver.

Sources

Every figure on this page comes from the public sources below. Where sources disagreed, we used the company's own announcement or a primary news report. Private-company data changes; check the date beside each figure.

1. Nairametrics
2. Connecting Africa
3. NextBillion