According to reports by Bloomberg, Uber Technologies Inc. has begun talks to back African vehicle-financing startup Moove in a funding round of as much as $100 million.
Founded by British-born Nigerian Ladi Delano and Jide Odunsi in 2020, Moove is an African-born, global mobility fintech that provides revenue-based vehicle financing and financial services to mobility entrepreneurs across ride-hailing, logistics, mass transit, and instant delivery platforms.
The famous US ride-hailing firm will join a group of investors in the cash raise, pushing Moove’s enterprise value to about $750 million from about $650 million, said the people, who asked to remain anonymous as the talks are still private.
According to reports, the funding round has yet to conclude, and the final figure could still change, ranging between about $75 million and $100 million.
