New Investments

Uber to Invest $100 Million in Nigerian-Born Fintech Startup Moove

Ride-hailing giant Uber is reportedly in talks to invest up to $100 million in Moove, a Nigerian vehicle financing platform, according to Bloomberg.

This investment could boost Moove’s valuation from $650 million to $750 million, although the final figure could fall between $75 million and $100 million.

While neither company has officially commented on the potential deal, the move wouldn’t be surprising given their existing partnership.

In 2020, Uber and Moove collaborated to offer Uber drivers flexible car ownership options.

This potential investment would mark another milestone for Moove, bringing its total funding to $335 million since its launch.

The company recently secured $10 million in debt financing from Stride Ventures to expand its operations in India, focusing on the cities of Mumbai, Hyderabad, and Bengaluru.

Notably, Uber has partnered with Moove in India to provide electric vehicles to Uber drivers there.

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