Moove, the African-born global mobility Fintech that provides revenue-based vehicle financing and financial services to mobility entrepreneurs, is reportedly in the process of raising $300 million in a new funding round that could propel its valuation beyond the $1 billion mark.

This would mark a major milestone for the startup as it positions itself as a key player in the evolving mobility and autonomous vehicle ecosystem. The funds will enable Moove to deepen its role in the autonomous vehicle sector, potentially leasing robotaxi fleets, and positioning it as a leader in future mobility solutions.

Founded in 2020 by Ladi Delano and Jide Odunsi, Moove provides vehicle financing solutions to ride-hailing drivers using a drive-to-own model. The company purchases vehicles using bank loans and leases them to drivers in Africa, India, and the UK, who pay for the vehicles from their earnings and can eventually own them.

Moove has built the third side of mobility marketplaces by providing dedicated supply via Drive-to-Own, Taxi, and Autonomous fleets and continues to lead the transformation of mobility globally. Since its inception, the company has raised $750 million in debt and equity to date from investors such as Uber—which holds over a 10% stake and Mubadala Investment Company.

In 2024, Moove secured $100 million at a $750 million valuation. Now, with a $300 million raise on the horizon, the startup could be on the verge of joining the unicorn club. Achieving a valuation above $1 billion would place Moove among elite startups, enhancing its reputation and attracting more investors, partners, and talent.

In December 2024, the company partnered with Waymo, the global leader in autonomous driving technology. This partnership marked a defining moment in its journey to revolutionize mobility and place Moove at the forefront of the commercial AV revolution on a global scale.

Through this partnership, Moove will play a pivotal role in supporting Waymo’s expansion into Miami in 2026, while taking over existing fleet operations in Phoenix, one of Waymo’s most established markets, in 2025. Also, the company will deploy Waymo’s fleet of autonomous vehicles into the Waymo One service. From overseeing fleet operations and charging infrastructure to optimising vehicle supply availability, Moove’s operational expertise will ensure a seamless, safe, and sustainable rider experience.

Moove’s expansion into the U.S. market and its deepening partnership with Waymo, Alphabet’s self-driving vehicle unit, highlight its growing ambitions.

Fast forward to January 2025, Moove announced the acquisition of Kovi, an urban mobility provider headquartered in São Paulo. This strategic acquisition aligns with Moove’s commitment to advancing mobility and expanding its footprint in the rapidly growing Latin American market.

Beyond this, Moove is preparing for a broader role in the autonomous vehicle space. According to co-founder Ladi Delano, the company is exploring the purchase of autonomous vehicles directly from manufacturers to lease out as mini fleets. These could be operated by individuals—including former ride-hailing drivers—or businesses.

A key component of Moove’s growth strategy has been strategic acquisitions. The company’s annualized revenue has soared to $360 million—up from $115 million a year earlier—indicating monthly revenues of about $30 million.

Moove’s vision is to build the world’s largest fleet and best-in-class technologies to power mobility platforms. The company is transforming the future of Mobility as a Service by providing comprehensive fleet solutions across the mobility spectrum.

Notably, this latest fundraising initiative reflects Moove’s intent to scale aggressively and solidify its role in the next generation of urban mobility. As the company grows its presence in autonomous fleet management and continues to innovate in vehicle financing for drivers, its path toward becoming a unicorn looks increasingly likely.