Moove Raises $250 Million To Lead the Robotaxi Industry

Africa has welcomed a new tech giant, a mobility fintech called Moove, which has just secured $250 million in Series C funding. This round has catapulted its valuation to a staggering $2.1 billion, led by Tiger Global among other prominent investors such as Uber, Mubadala, BlackRock, and Prosus Ventures. The capital infusion will be channeled towards scaling autonomous vehicle operations, strengthening AI capabilities, and venturing into more global markets.

Moove's Origin Moove, launched in 2020 in Lagos, identified a unique problem: millions of ride-hailing drivers lacked access to car loans due to absent credit scores. The solution was simple – Moove financed drivers' cars by taking repayments from their earned trips on apps like Uber and Bolt. This innovation led to rapid scale within Africa and expansion into Europe, the Middle East, India, and the US.

A Shift Beyond Lending Moove's journey, however, extended beyond car financing. The company now buys, maintains, insures and operates vehicles, leveraging amassed trip data to refine its AI systems. Early investors saw the potential in Moove's transition from a lender to a mobility operator, anticipating a future with self-driving cars.

A Sizable Leap in Funding The growth trajectory of Moove was indeed impressive. Just a year ago, a $100M raise at a $750M valuation was led by Uber. In September 2025, the company reportedly raised over $2B, following accelerated revenue growth. The latest funding round, however, marks an even more significant leap with $250M at a $2.1 billion valuation – a milestone achieved in less than a year.

Expansion and Challenges Moove's reach now extends to Brazil with managed fleets and a deepened partnership with Waymo in the US. This strategic move has resulted in a surge in revenue as the company moves away from ride-hailing finance and delves into broader mobility services. Yet, the journey ahead is far from smooth. Self-driving cars are still new and expensive, and expanding globally poses regulatory challenges, fleet management issues, and the need for 24/7 operational efficiency.

These challenges call for continuous investment, justifying the need for further funding. A Global Vision While securing this substantial funding is a significant achievement, the real test lies in execution. In the future, if Moove successfully scales its operations, it could transcend its African roots to become a global leader in autonomous vehicle fleets.