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TLDR:
Moove, a fintech mobility startup, secured $100 million in funding in a Series B round, bringing their valuation to $750 million. The funding, led by Mubadala and Uber, will enable Moove to expand its customer-focused vehicle financing services to 16 markets by 2025, with a focus on electric vehicles. The founder, Ladi Delano, expressed gratitude and highlighted the positive impact on customers. Moove has helped over 20,000 mobility entrepreneurs and facilitated more than 30 million financed trips to date.
Article Summary:
Moove, a startup providing financial access for vehicle ownership, has secured $100 million in funding during a Series B round, increasing their valuation to $750 million. The funding, with support from Uber and Mubadala, will help Moove expand its revenue-based vehicle financing offerings to 16 global markets by 2025, focusing on electric vehicles for a sustainable mobility ecosystem. Founder Ladi Delano emphasized the positive impact of their services on over 20,000 mobility entrepreneurs and highlighted the commitment of the Moove team to reaching this milestone.
Moove has helped facilitate more than 30 million financed trips across three continents, resulting in an annual recurring revenue of over $115 million. The partnership between Moove and Mubadala in the United Arab Emirates showcases the collaboration between local investors and startups to drive innovation and growth globally. With previous funding rounds and a total of $334 million in investments, Moove continues to establish itself as a key player in the mobility and finance sectors.
