Moove Aims for Unicorn Status with $300M Funding Round, Targeting $2B Valuation

Nigerian mobility fintech Moove is on the cusp of becoming Africa’s next unicorn, seeking to raise over $300 million in a new equity funding round that could propel its valuation past $2 billion, according to sources familiar with the matter. This ambitious push follows a remarkable trajectory for the startup, which was valued at $750 million in March 2024 after a $100 million Series B round led by Uber and Mubadala Investment Company.[](https://www.techinafrica.com/moove-sets-sights-on-becoming-africas-next-unicorn-with-300-million-funding-round-eyeing-2-billion-valuation/)[](https://empowerafrica.com/nigerian-born-startup-moove-set-to-become-africas-next-unicorn-with-300-million-equity-raise/)

Founded in 2020 by Ladi Delano and Jide Odunsi, Moove has disrupted the gig economy by offering revenue-based vehicle financing, enabling drivers in ride-hailing, logistics, and delivery services to purchase vehicles with repayments tied to a percentage of their weekly earnings. The company’s annualized recurring revenue has skyrocketed from $50 million in 2024 to nearly $400 million, achieving EBITDA breakeven in September 2024. Operating across 19 markets—including Africa, the Middle East, Europe, Asia, and Latin America—Moove has secured over $750 million in total debt and equity funding to date.[](https://www.techinafrica.com/moove-sets-sights-on-becoming-africas-next-unicorn-with-300-million-funding-round-eyeing-2-billion-valuation/)[](https://empowerafrica.com/nigerian-born-startup-moove-set-to-become-africas-next-unicorn-with-300-million-equity-raise/)[](https://techcrunch.com/2025/03/29/here-are-africas-biggest-startups-based-on-valuation/)

The fresh capital is earmarked to scale its autonomous vehicle business, particularly following its 2024 U.S. entry via a partnership with Waymo, Alphabet’s autonomous driving unit, to manage electric robotaxi fleets in Phoenix and Miami. Moove’s focus on sustainability is evident in its fully electric fleet in the UAE and plans to deploy 20,000 EVs in India, leveraging government incentives to cut costs and emissions. Its recent acquisition of Brazilian mobility firm Kovi in January 2025 further bolsters its global footprint.[](https://www.techinafrica.com/moove-sets-sights-on-becoming-africas-next-unicorn-with-300-million-funding-round-eyeing-2-billion-valuation/)[](https://empowerafrica.com/nigerian-born-startup-moove-set-to-become-africas-next-unicorn-with-300-million-equity-raise/)

“We’re thrilled to be recognized as a leader in mobility fintech,” said Moove’s leadership, emphasizing their vision to become Africa’s top super app. Investors like Novastar Ventures’ Brian Waswani Odhiambo praise Moove’s local insight and sustainable approach, positioning it to redefine last-mile delivery.[](https://www.techinafrica.com/moove-sets-sights-on-becoming-africas-next-unicorn-with-300-million-funding-round-eyeing-2-billion-valuation/)

With Nigeria’s fintech dominance—home to unicorns like Flutterwave and Moniepoint—Moove’s growth signals Africa’s maturing tech ecosystem, though it faces stiff competition from players like Yassir and M-Kopa. If successful, this round could cement Moove’s place among Africa’s elite billion-dollar startups, driving sustainable mobility and economic impact across the continent.