Uber invests $100 million in fintech company Moove

Moove specialises in mobile transport solutions in Africa.

Here's What We Know

Moove provides vehicle financing for drivers working for services such as Uber. This helps to ensure affordable and efficient transport services for people in Africa, where infrastructure and vehicle availability can be limited.

Flashback

Moove is an African fintech startup that specialises in vehicle finance.

Together with allies like Mubadala and others, Moove has raised its valuation to $750 million. These funds will support Moove's expansion into new markets and the development of their platform.

Through this initiative, Moove plans to operate in 16 markets by the end of 2025 and will offer drivers a variety of vehicle models from traditional to electric vehicles.

The investment commits Uber to building a zero-emission fleet by 2040.

Source: TechCrunch