Moove Secures $100 Million in Series B Funding Led by Uber

We are pleased to announce the successful closing of our $100 million Series B funding round, led by Uber. This significant milestone includes contributions from our previous investor Mubadala, as well as new investors such as The Latest Ventures, Africinvest, Palm Drive Capital, Triatlum Advisors AG, and Future Africa. We also extend our thanks to BofA Securities for their strategic financial guidance.

With this latest funding round, Moove's valuation now stands at $750 million, underscoring the impact of our commitment to transforming the mobility landscape. Our efforts have already made a significant difference in the lives of over 80,000 individuals across 9 markets.

Demonstrating our model's effectiveness, we achieved over $115 million in Annual Recurring Revenue last fiscal year. Cumulatively, Moove has secured $250 million in equity and $210 million in debt financing, fuelling our continued expansion and innovation in Africa and beyond.

The recent funding will allow us to add 45,000 new vehicles to our fleet, with a significant focus on electric vehicles (EVs), thereby advancing our commitment to a more sustainable and accessible mobility ecosystem for our customers worldwide. Our expansion strategy is forward-looking, targeting an increase in our presence to 16 markets by the end of 2025.

We are grateful for the trust and support of our investors, partners, and the Moove community. Together, we look forward to driving forward our vision to democratise vehicle financing for mobility entrepreneurs.

The Moove Leadership Team