The Nigerian mobility fintech Moove has raised $250 million in a new Series C funding round, pushing its valuation to $2.1 billion and making it Africa’s most valuable mobility unicorn. The new valuation puts Moove ahead of Egypt’s MNT-Halan and Algeria’s Yassir, and marks another major milestone for a company that started out solving a very specific Nigerian problem: helping ride-hailing drivers get access to cars.

The latest funding round was led by Mubadala Investment Company, with participation from existing and strategic investors including BlackRock, Uber and Toyota’s Woven Capital. The new capital will help Moove expand its autonomous vehicle fleet operations as it moves further into the rapidly developing robotaxi industry.

It is a significant evolution for a company that began in Lagos in 2020.

Image Credit: Tech Cabal

Founded by Nigerian entrepreneurs Ladi Delano and Jide Odunsi, Moove initially focused on one of the biggest barriers facing Uber and Bolt drivers in Nigeria: access to vehicle financing. Many drivers had the income to work in the ride-hailing economy but lacked the capital or traditional credit history required to purchase a vehicle.

Moove’s answer was relatively simple. Instead of requiring drivers to pay for a car upfront, the company developed a revenue-based financing model that allowed them to access vehicles and repay the cost from their earnings.

That model helped Moove grow beyond Nigeria and into multiple international markets. Today, the company operates across Africa, Europe, Asia, the Middle East and the Americas, and has increasingly positioned itself as an infrastructure company for the future of mobility.

The company’s expansion has also taken it into autonomous vehicles. Moove has partnered with Waymo to manage autonomous vehicle fleet operations, including the maintenance, charging and operational side of robotaxi fleets. Its acquisition of Brazilian car-rental company Kovi in 2025 also helped accelerate its international expansion.

“This investment marks a significant milestone in our mission to build the world’s largest and most profitable fleet for autonomous mobility,” Delano said. “As AV adoption accelerates, Moove is uniquely positioned to bridge the gap between innovation and large-scale commercial deployment.”

That ambition represents a pretty dramatic shift from where the company started.

Moove was created to help everyday drivers own cars. Now, it is positioning itself to help operate the fleets that could eventually power the future of autonomous transportation.

The company’s growth has also been reflected in its financial performance. Moove’s annualised revenue run-rate reached approximately $360 million by the middle of 2025, according to Sacra, while the company had previously raised $100 million in a Series B round led by Uber that valued it at $750 million.

The latest raise therefore represents a major jump from that $750 million valuation — and a sign of how quickly investors’ perception of Moove has changed.

Back in 2025, Bloomberg reported that Moove was exploring a funding round of more than $300 million at a valuation above $2 billion, with the money expected to support its autonomous vehicle business. That potential round has now materialised, with the company reaching a $2.1 billion valuation.