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TLDR:
- Moove, a fintech mobility startup, raised $100m in Series B funding, valuing the company at $750m.
- The funding will enable Moove to expand its vehicle financing offering to 16 markets globally and focus on electric vehicles.
Article Summary:
Moove, a mobility startup that provides financial access for vehicle ownership, recently secured $100m in a Series B funding round. The funding, which values the company at $750m, was led by Mubadala and included investments from e-hailing platform Uber. This funding will allow Moove to expand its customer-focused revenue-based vehicle financing offering to 16 markets by 2025, with a significant focus on electric vehicles to promote sustainability in mobility ecosystems.
The founder of Moove, Ladi Delano, expressed gratitude for the support and highlighted the positive impact the company has had on over 20,000 mobility entrepreneurs worldwide. Moove’s partnership with Mubadala in the UAE has been instrumental in driving growth and innovation in the startup ecosystem. With over $115m in annual recurring revenue and more than 30 million financed trips to date, Moove continues to make waves in the mobility industry.
Overall, the funding will enable Moove to further solidify its position in the market and expand its reach to offer accessible and affordable vehicle financing options to a wider customer base globally.
