Moove, the Nigerian-founded mobility financing company, had raised more than $710 million in global funding before announcing its exit from Nigeria this month, six years after launching operations in the country.
The company attracted funding from global investors, including Uber, Mubadala Investment Company, BlackRock and Franklin Templeton, as it expanded from vehicle financing for ride-hailing drivers into international fleet operations and autonomous mobility infrastructure.
The $710 million figure represents Moove’s reported global fundraising, not the amount invested in Nigeria.
Founded in Lagos in 2020 by Ladi Delano and Jide Odunsi, Moove began by providing vehicle financing to drivers working with ride-hailing platforms, allowing them to acquire vehicles through a revenue-based repayment model.
In August 2023, Nairametrics reported that Moove raised $76 million in new financing to support its expansion and push towards profitability.
Moove also secured a $10 million debt facility from Stride Ventures in February 2024 to support its expansion in India. Nairametrics subsequently reported that the Series B round and the Stride Ventures facility accounted for $110 million in disclosed funding across the two deals.
The Series B funding supported Moove’s international expansion, including plans to increase its vehicle fleet and enter additional markets.
Moove attained unicorn status in August 2026 after raising $250 million in a Series C funding round that valued the company at $2.1 billion. The development was reported by Nairametrics.
The Series C brought Moove’s total capital raised to more than $710 million.
Moove announced on October 8, 2026, that it would conclude its Nigerian operations, six years after launching in Lagos.
As part of its exit, the mobility financing company said it would transfer vehicles worth approximately N35 billion to eligible existing customers, who would own the vehicles outright without further payments for the vehicles themselves, subject to applicable arrangements.
Moove also said it would give cars to all its Nigerian staff members in recognition of their contributions to the company.
The company said it had served more than 9,000 customers in Nigeria, helping them generate approximately N57 billion in revenue through vehicles financed by its platform.
