{"id":8222,"date":"2026-08-12T15:04:40","date_gmt":"2026-08-12T14:04:40","guid":{"rendered":"https:\/\/techstream.africa\/?p=8222"},"modified":"2026-08-12T15:04:40","modified_gmt":"2026-08-12T14:04:40","slug":"silverbacks-bets-37m-on-mooves-growth","status":"publish","type":"post","link":"https:\/\/techstream.africa\/?p=8222","title":{"rendered":"Silverbacks Bets $37M on Moove\u2019s Growth"},"content":{"rendered":"\n
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African investment firm Silverbacks Holdings has increased its exposure to mobility fintech Moove to more than $37 million, highlighting growing investor confidence in the Africa-born company as its valuation reaches approximately $2.1 billion.<\/a> The investment makes Moove one of the most valuable technology companies to emerge from Africa.\u00a0<\/p>\n\n\n\n

Silverbacks said its cumulative investment in Moove has now surpassed $37 million following participation in the mobility startup\u2019s latest funding round. Based on Moove\u2019s new valuation, Silverbacks estimates that the value of its stake has risen to more than $62 million, representing a substantial increase over its invested capital. <\/p>\n\n\n\n

The development is significant for Silverbacks, an Africa-focused investment firm that has backed several high-growth technology companies. Its portfolio includes major African startups such as Flutterwave, Wave, Sabi, Kuda and Moove, reflecting a strategy focused on businesses capable of scaling beyond their initial markets. <\/p>\n\n\n\n

Moove was founded to address a major challenge in the mobility industry: access to vehicle financing for drivers. The company provides financing that enables drivers to acquire vehicles and earn income through ride-hailing and other mobility services. Over time, it has expanded beyond its original African markets and developed a broader global mobility platform.<\/p>\n\n\n\n

The company\u2019s growth has attracted major international investors. Previous funding has included backing from Uber, AfricInvest, Future Africa, Mubadala and other institutional investors. In March 2024, Moove raised $100 million in a Series B round that valued the company between $650 million and $750 million, according to available investment data. <\/p>\n\n\n\n

Its latest valuation represents a dramatic increase from that level. Reaching $2.1 billion also places Moove among Africa\u2019s growing group of privately held technology companies valued above $1 billion.<\/p>\n\n\n\n

For Silverbacks, the investment demonstrates the potential returns available from backing African technology businesses early and continuing to support them as they scale. The firm has previously highlighted Moove as one of its important portfolio companies and has pointed to successful exits from other investments, including LemFi and Omniretail. <\/p>\n\n\n\n

The investment also reflects the changing nature of African startups. Companies founded on the continent are increasingly building international operations rather than limiting themselves to local markets. Moove\u2019s expansion into global mobility demonstrates how African entrepreneurs can develop businesses around local challenges and then adapt those solutions to international markets.<\/p>\n\n\n\n

For Moove, the new valuation provides additional credibility as it competes in the global mobility and financial-services sectors. It also gives the company a stronger platform for expanding its vehicle-financing model and developing new mobility solutions.<\/p>\n\n\n\n

The Silverbacks investment ultimately illustrates how long-term institutional backing can generate significant value from African technology companies. As Moove continues to scale, its $2.1 billion valuation could mark another important milestone in Africa\u2019s emergence as a source of globally competitive technology businesses.<\/p>\n","protected":false},"excerpt":{"rendered":"

African investment firm Silverbacks Holdings has increased its exposure to mobility fintech Moove to more than $37 million, highlighting growing investor confidence in the Africa-born company as its valuation reaches approximately $2.1 billion. The investment makes Moove one of the most valuable technology companies to emerge from Africa.\u00a0 Silverbacks said its cumulative investment in Moove…<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-8222","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"_links":{"self":[{"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/posts\/8222","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/techstream.africa\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8222"}],"version-history":[{"count":1,"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/posts\/8222\/revisions"}],"predecessor-version":[{"id":8224,"href":"https:\/\/techstream.africa\/index.php?rest_route=\/wp\/v2\/posts\/8222\/revisions\/8224"}],"wp:attachment":[{"href":"https:\/\/techstream.africa\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8222"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/techstream.africa\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8222"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/techstream.africa\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8222"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}