Moove, the Lagos-born mobility fintech, is inching closer to unicorn status with a fresh $300 million equity raise underway. The company, which provides revenue-based vehicle financing to gig drivers, could see its valuation propel beyond $1 billion, according to The Information
Launched in 2020, Moove began by financing ride-hailing vehicles in Lagos, helping drivers get cars without upfront capital.
Today, the company has raised over $409 million in debt and equity, backed by heavyweights including Uber, Mubadala, and Speedinvest. Its most recent raise was a $100 million Series B in March 2024, led by Uber and Mubadala, valuing Moove at $750 million.
Before that, the startup had raised significant funding through many rounds. In 2022 alone, it announced five funding rounds, which included $105 million in March 2022 and $10 million in July 2022.
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