– Moove secures $100 million in Series B funding, with a valuation of $750 million, with participation from Uber and Mubadala.

– The funding will enable Moove to expand its customer-centric, revenue-based vehicle financing services to 16 markets globally by the end of 2025, with a focus on electric vehicles (EVs) to promote sustainability.

– Moove, headquartered in the UAE, aims to lead the electrification of mobility while supporting the region’s vision for economic diversification and technological advancement.

Moove, the global mobility fintech company that facilitates access to vehicle ownership for mobility entrepreneurs worldwide, announced that it has secured $100 million in Series B funding, with a valuation of $750 million. 

This investment round saw participation from Uber and Mubadala, the latter having led Moove’s previous funding round in 2023.

The funding will empower Moove to extend its customer-centric, revenue-based vehicle financing services to 16 markets globally by the end of 2025. 

Moove has assisted over 20,000 mobility entrepreneurs across three continents, facilitating more than 30 million financed trips, resulting in an annual recurring revenue exceeding $115 million.

A significant portion of this expansion will focus on electric vehicles (EVs), laying the groundwork for a more sustainable and accessible mobility ecosystem worldwide.

Founder of Moove, Ladi Delano, expressed, “Today’s announcement marks a significant milestone for us. Since our inception in 2020, our goal has been to address the acute shortage of vehicle financing faced by over two million African mobility entrepreneurs. 

“The support from Uber and others underscores the transformation of our dream into a tangible reality. This infusion of capital will amplify the positive impact our products have on our customers’ lives on a broader scale. I extend my heartfelt gratitude to our dedicated team of Moovers for their relentless effort and commitment, crucial in achieving this milestone.”

Established in 2020 to provide fair, accessible, and affordable revenue-based vehicle financing options, Moove is now headquartered in the UAE, an emerging hub for entrepreneurship and innovative startups. 

The evolving partnership between Moove and Mubadala highlights the potential of collaboration between local UAE investors and startups to drive growth and innovation globally.

The UAE holds strategic importance for Moove, being the first market where it introduced its fully integrated charging solution and transitioned to a 100% EV fleet. 

This focus on sustainability and innovation aligns with Moove’s commitment to shaping the future of mobility in the region and supporting the UAE’s vision for economic diversification and technological advancement.

Ali Eid Al Mheiri, Executive Director of UAE Diversified Assets at Mubadala’s UAE Investments Platform, remarked, “We are proud to continue supporting Moove through our second round of funding, reflecting our commitment to nurturing the startup ecosystem in the UAE and our trust in Moove’s vision and capabilities.”

Ladi Delano said, “This recent investment is transformative for Moove, enabling us to introduce 45,000 new vehicles to our platform and expand our operational capacity. It also supports our journey towards profitability by the next financial year. We are dedicated to building Moove sustainably, with a focus on our customers and profitability. Our aim is to lead the electrification of mobility, contributing to a zero-emission future.”