Moove Cars
Revenue-based vehicle financing for global mobility entrepreneurs.
| EUR | 2021 |
|---|---|
| Revenues | 0000 |
| EBITDA | 0000 |
| Profit | 0000 |
| % profit margin | (19 %) |
| EV | 0000 |
| EV / revenue | 00.0x |
| EV / EBITDA | 00.0x |
| R&D budget | 0000 |
Source: Company filings or news article
Moove is a global mobility fintech company that provides revenue-based vehicle financing to mobility entrepreneurs, primarily those on ride-hailing, logistics, and delivery platforms like Uber. Founded in 2020 by Ladi Delano and Jide Odunsi, the company was established to address the significant challenge of vehicle financing for gig workers in Africa. Delano and Odunsi, friends who met while studying in London, shared a vision of using business to solve societal issues, which led to the creation of Moove.
The company's core business model embeds its alternative credit-scoring technology into mobility platforms to underwrite loans. This allows Moove to access proprietary performance and revenue analytics to offer financing. Drivers receive new vehicles with up to 95% of the purchase financed and repay the loan through a percentage of their weekly earnings, with terms typically ranging from 24 to 48 months. This revenue-based system mitigates default risk and democratizes vehicle ownership for entrepreneurs who lack access to traditional credit. Moove serves drivers on ride-hailing, logistics, mass transit, and instant delivery platforms.
Initially launched in Nigeria, Moove has expanded rapidly and now operates in numerous markets across Africa, Europe, Asia, and the Americas. It is the largest vehicle supply partner for Uber in the EMEA region. The company has a significant focus on sustainable mobility, aiming to have a large portion of its financed vehicles be electric. In a strategic move into autonomous technology, Moove has partnered with Waymo to manage and dispatch its autonomous vehicle fleet in the US. Through a specialized unit called AVOMO, the company handles the maintenance, supervision, and optimization of autonomous vehicle fleets.
Since its inception, Moove has raised substantial equity and debt funding from investors including Uber, Mubadala, and Speedinvest, reaching a valuation of $750 million by March 2024. In 2025, the company acquired Kovi, a Brazilian urban mobility provider, to strengthen its presence in Latin America.
Keywords: revenue-based financing, vehicle financing, mobility fintech, ride-hailing, gig economy, asset ownership, alternative credit scoring, fleet management, Uber partner, electric vehicles, autonomous vehicles, impact investing, emerging markets, logistics financing, last-mile delivery, AVOMO, Waymo partner, vehicle leasing, driver financing, financial inclusion