Roehl Niño Bautista · · 1 min readNigerian fintech firm eyes Asia after $105m fundraise
Nigeria-based Moove, a mobility-focused fintech platform, has raised US$105 million in a Series A2 round led by Speedinvest, Left Lane Capital and The Latest Ventures.
The fresh raise will fund Moove’s entry into seven new markets in Asia, Middle East and North Africa (MENA), and Europe, although the firm didn’t specify the exact countries.
Moove founders Jide Odunsi (left) and Lani Delano / Photo credit: Moove
Moove provides car financing for ride-hailing drivers. Users can either avail flexible rental services or choose a plan that would help them buy their own car.
The company was founded by Lani Delano and Jide Odunsi in 2019.
“The Moove model that we’ve pioneered in Africa, providing revenue-based vehicle financing to mobility entrepreneurs, can be applied anywhere in the world, which is why we’re excited to be expanding to new emerging markets in Asia and the MENA region,” said Odunsi.
In Africa, Moove has partnered with Uber, which in 2020 exited Southeast Asia, where Grab dominates as of 2021.
See also: Grab’s financial health in 8 charts
Other investors in the round include:
- AfricInvest
- MUFG Innovation Partners
- Latitude
- Kreos Capital
Editing by Samreen Ahmad and Arpit Nayak
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