Nigerian mobility fintech startup Moove secures $20 million in fresh funding

Oluwajuwonlo Afolabi -

Moove, a fintech mobility startup operating in Nigeria has secured $20 million in its new funding round from UK-based British International Investment (BII), a government financial institution.

  • The funding will help the mobility startup to purchase and import brand new fuel-enabled cars into Lagos, and lease them to drivers in a three-four years asset ownership deal.
  • Moove is embedding technology and productivity data into an inclusive finance ecosystem targeted at creating sustainable jobs in Nigeria.
  • It last raised $105 million in its Series A2 in March, in a combination of debt and equity financing.
  • The new round brings Moove close to $200 million in total raise since launch.