Moove, an African vehicle-financing startup backed by Uber, is seeking to raise over $300 million at a valuation above $2 billion, Bloomberg reported, citing people familiar with the matter.
The funding would support expansion of its autonomous vehicle business, the people said.
Founded in 2020 by Ladi Delano and Jide Odunsi, Moove now operates in more than a dozen markets, including the UAE, Mexico, and India.
Revenues have surged from around $50 million in 2024 to nearly $400 million in annualized recurring revenue, with the company breaking even on an EBITDA basis in late 2024.
In July, Moove raised over $1 billion in debt to finance an autonomous-driving rollout with Alphabet’s Waymo and expand in the U.S.
The company managed to secure debt in excess of $1 billion, one of the people said.
