Nigerian fintech startup Moove secures $100m in Series B funding.

TLDR:

• Nigeria-founded mobility fintech startup Moove raises $100m Series B funding round
• Moove connects mobility entrepreneurs with fair, accessible, and affordable revenue-based vehicle financing options

Nigeria-founded mobility fintech startup Moove has raised US$100 million in a Series B funding round, bringing its total raised capital to over US$460 million and valuing the company at US$750 million. Moove was founded in 2020 to provide vehicle financing options for mobility entrepreneurs using alternative credit scoring technology. The company operates in nine markets and has financed over 30 million trips to date. The latest funding round includes investment from Uber and aims to expand Moove’s customer-focused revenue-based vehicle financing offering to 16 markets by 2025, with a focus on electric vehicles. Moove’s founder, Ladi Delano, expressed gratitude for the support from investors and highlighted the positive impact the company’s products have on customers’ lives.