Moove, a mobility-first fintech startup born in Africa, has expanded its revenue-based vehicle financing model to India to support mobility entrepreneurs and create sustainable jobs, as part of its global expansion plans.
- Moove is partnering with Uber India to launch 5,000 electric and compressed natural gas (CNG) vehicles in the first year and increase to 30,000 in the next five years.
- The mobility startup offers revenue-based financing for transport entrepreneurs and making it easy to access vehicle ownership and creating opportunities to cater to those who have been previously excluded from financial services.
- The launch will help thousands of drivers return to work in India and the energy-efficient vehicles the startup is introducing will improve the Indian government's efforts in reducing carbon emissions in the country.
- The operation is starting in Mumbai, Hyderabad, and Bangalore.