Moove raises $250 million at a $2.1 billion valuation in major autonomous mobility pivot

Moove, the mobility fintech founded by Nigerian entrepreneurs Ladi Delano and Jide Odunsi, has raised $250 million in a fresh Series C funding round, lifting its valuation to $2.1 billion and cementing its place among Africa’s tech unicorns as it doubles down on autonomous vehicle infrastructure.

The funding, first reported by Bloomberg, was led by the Abu Dhabi sovereign wealth fund, Mubadala Investment Company, alongside co-leads Woven Capital (Toyota’s growth fund) and Ion Pacific. New institutional backers, including BlueCrest Capital Management and Sona Capital, have also joined a formidable cap table that already boasts heavyweight names like Uber, BlackRock, and Franklin Templeton

The raise marks a defining moment for one of Africa’s biggest startup success stories. In just six years, Moove has evolved from helping ride-hailing drivers in Lagos finance their vehicles into a global fleet management company building infrastructure for the autonomous mobility era.

Founded in 2020, the company introduced a revenue-based financing model that enabled drivers to purchase vehicles using their earnings history rather than traditional credit scores. The model addressed one of the biggest barriers facing ride-hailing drivers across emerging markets, where access to vehicle financing remains limited.

That strategy fuelled rapid expansion across Africa, Europe, the Middle East, Asia and North America.

According to Bloomberg, Moove now manages about 42,000 vehicles across 29 cities in 13 countries and generates roughly $420 million in annual recurring revenue.

The latest funding comes just over two years after Moove raised a $100 million Series B led by Uber at a $750 million valuation, a round that also saw the company move its global headquarters to the United Arab Emirates. Before the new investment, it had secured more than $250 million in equity and $210 million in debt financing.

Moove moves into autonomous mobility

The new capital signals a strategic shift beyond vehicle financing. Moove is positioning itself as the infrastructure partner for autonomous vehicle operators, expanding its role from financing fleets to managing them. Central to that strategy is the rollout of robotics-enabled depots, known internally as “Nests”, where self-driving vehicles can be charged, cleaned, serviced and inspected with minimal human intervention.

The company is also deepening its partnership with Waymo, managing autonomous ride-hailing fleets in Phoenix, Miami and London. The new funding will help scale those operations as commercial deployment of self-driving vehicles accelerates.

For Africa’s technology ecosystem, the milestone is significant. While many startups on the continent remain focused on solving local challenges, Moove has successfully translated an African-born business model into a global mobility platform, attracting some of the world’s largest institutional investors in the process.

Its $2.1 billion valuation now places it among Africa’s most valuable technology companies and reinforces growing investor confidence in mobility infrastructure as autonomous transportation moves closer to the mainstream.