Nigerian mobility fintech Moove raises £15m to ramp up UK operations
Nigerian mobility fintech Moove has raised £15m from asset manager Emso to ramp up operations in the UK.
Moove said the financing will help it provide 10,000 electric vehicles to Uber’s fleet as part of its UK launch.
This will enable Moove to become Uber’s largest EV provider as the ride hailing giant aims to become all-electric in London by 2025.
“This financing comes at a really exciting time for Moove,” said chief executive and co-founder Ladi Delano.
“With our international expansion underway in the UK and India, we’ve already shown that affordable and accessible vehicle financing for mobility entrepreneurs is a global challenge and one we’re committed to solving at Moove.”
Founded in 2020 to expand access to vehicle ownership in Nigeria, the fintech will allow customers to access EVs through its rent-to-buy model, which is based on a weekly fee.