Uber provides US$100 million funding for move

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Moove Driver And Passenger
Moove Driver And Passenger

Moove, a car-financing startup that allows anyone interested in ride-hailing to get a brand new car and pay in instalments over a four-year period, has raised $100 million in a Series B round reportedly led by Uber, according to reports from TechCrunch.

In February, Bloomberg reported that Uber was considering an equity investment in the company. The new funding round brings Moove’s total fund raised to date to about $460 million—$250 million in equity and $210 million in debt.

Mubadala Investment Company, a sovereign wealth fund that also invested in Moove’s Series A round, also participated in the Series B round. Other investors in the round include The Latest Ventures, AfricInvest, Palm Drive Capital, Triatlum Advisors, and Future Africa. Moove, which currently operates in six countries, will use the new funding to expand to 16 more markets by the end of 2025.a car-financing startup that allows anyone interested in ride-hailing to get a brand new car and pay in instalments over a four-year period, has raised $100 million in a Series B round reportedly led by Uber, according to reporting from TechCrunch.

In February, Bloomberg reported that Uber was considering an equity investment in the company. The new funding round brings Moove’s total fund raised to date to about $460 million—$250 million in equity and $210 million in debt.

Mubadala Investment Company, a sovereign wealth fund that also invested in Moove’s Series A round, also participated in the Series B round. Other investors in the round include The Latest Ventures, AfricInvest, Palm Drive Capital, Triatlum Advisors, and Future Africa. Moove, which currently operates in six countries, will use the new funding to expand to 16 more markets by the end of 2025.

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