Home » British-Nigerian entrepreneur Ladi Delano’s startup raises $100 million at $750 million valuation

British-Nigerian entrepreneur Ladi Delano’s startup raises $100 million at $750 million valuation

Moove's Series-B funding marks milestone in addressing Africa's vehicle financing gap

by Feyisayo Ajayi
Ladi Delano

Moove, the global mobility fintech firm led by British-Nigerian entrepreneur Ladi Delano, has successfully concluded a $100-million Series-B funding round. The financing, supported by prominent investors including Uber Technologies and Mubadala, underscores a pivotal moment for the startup, now valued at $750 million.

With a keen eye on advancing its customer-centric revenue-based vehicle financing services, Moove is poised to leverage this latest funding round to fuel its ambitious expansion plans across 16 markets worldwide by the close of 2025.

Central to this strategic initiative is the emphasis on facilitating access to electric vehicles (EVs), underscoring Moove’s commitment to fostering a sustainable and inclusive mobility ecosystem on a global scale.

Moove’s Series-B funding marks milestone in addressing Africa’s vehicle financing gap

The announcement of Moove’s Series B funding not only signifies a significant milestone for the fintech firm but also puts to rest speculation regarding Uber’s involvement in supporting the African startup. This collaboration highlights the industry’s acknowledgment of Moove’s potential to revolutionize mobility financing, particularly in emerging markets where access to such services remains a challenge.

Reflecting on this achievement, Ladi Delano, founder of Moove, expressed gratitude for the transformative impact the investment will have on the company’s mission, saying: “Today’s announcement marks a significant milestone for us. This infusion of capital is set to amplify the immensely positive impact our products have in the lives of our customers on a much broader spectrum.”

Moove’s global impact on mobility with more than 20,000 partners and $115 million in annual revenue

Established in 2020 by Ladi Delano alongside Jide Odunsi, Moove has rapidly emerged as a key player in the mobility fintech sector, addressing the acute shortage of vehicle financing for over two million African mobility entrepreneurs. As Uber’s exclusive car finance and vehicle supply partner in Sub-Saharan Africa, Moove has solidified its presence in major cities across the region, showcasing remarkable growth with over 50 percent month-on-month expansion since its inception.

The company’s commitment to innovation and sustainability is further underscored by its operations in the UAE, where it has pioneered initiatives such as fully integrated charging solutions and transitioning to a 100 percent EV fleet.

Moove has facilitated more than 20,000 mobility entrepreneurs across three continents, enabling over 30 million financed trips and generating an annual recurring revenue exceeding $115 million. The company’s trajectory not only reflects its commitment to addressing mobility challenges but also its vision for driving positive change in the global transportation landscape.

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