Moove, a Nigerian mobility fintech startup, was founded in 2019 by Ladi Delano and Jide Odunsi to tackle the significant challenge of vehicle financing for African entrepreneurs. By partnering with ride-hailing platforms like Uber, Moove offers revenue-based financing, enabling drivers to own vehicles through a flexible repayment model based on a percentage of their weekly earnings. This innovative approach has provided thousands of drivers with access to vehicles without the need for upfront capital or collateral, fundamentally transforming the mobility landscape in Africa.
Since its inception, Moove has rapidly expanded its operations across several African markets, including Nigeria, Ghana, and Kenya, and has ambitious plans to enter other emerging markets. The company has raised over $200 million in funding from global investors, reflecting strong confidence in its model and growth potential. Moove’s success is underscored by its ability to create jobs, drive financial inclusion, and empower a new generation of African entrepreneurs through accessible vehicle ownership.
Moove’s impact extends beyond its innovative financing model; it has become a key player in the African mobility and fintech sectors, contributing to the continent’s broader economic development. By providing a scalable solution to vehicle financing, Moove is not only meeting the needs of the mobility industry but also setting a precedent for how technology and finance can be leveraged to address critical challenges in emerging markets.
Comments