Nigerian-founded mobility fintech Moove has raised USD 250 million in a Series C funding round at a valuation of USD 2.1 billion, the company and lead investor Mubadala Investment Company said on 5 August 2026. The new valuation is up from a previously reported USD 750 million in 2024.
The round was co-led by Woven Capital, the growth fund of Japan's Toyota, and Ion Pacific. The round also brought in new investors BlueCrest Capital Management, Sona Asset Management and The Raptor Group, alongside existing backers including BlackRock, MUFG, Franklin Templeton and Uber.
AUTONOMOUS VEHICLE PIVOT
Moove said the funding will expand its autonomous vehicle business, including autonomous fleet ownership and its robotics-first depot infrastructure, known as Nests, and that it expects to grow its autonomous vehicle workforce from around 150 employees to about 500 by the end of the year. Moove describes itself as Uber's largest global fleet partner and a leading third-party operator of autonomous vehicle fleets through its partnership with Waymo.
Moove was founded in Nigeria in 2020 by Ladi Delano and Jide Odunsi and launched with 76 vehicles in Lagos; it finances, owns and operates vehicles for mobility platforms such as ride-hailing services. It has since expanded through organic growth and acquisitions, including Kovi in Brazil and Tokyo Taxi in Japan, and is now headquartered in the United Arab Emirates.
Moove's Nests are depots where autonomous fleets undergo charging, servicing, maintenance and coordination for round-the-clock operation, and TechCrunch reported that about 15 depots are in some stage of development.
GLOBAL FLEET, RISING REVENUES
Moove said it currently operates around 42,000 vehicles across 29 cities in 13 countries and has reached USD 420 million in annual recurring revenue.
The USD 2.1 billion valuation makes Moove a unicorn, a private company valued at more than USD 1 billion.
Co-founder and co-chief executive Ladi Delano said: "Every major technology revolution becomes an infrastructure race. The internet required data centres. AI required compute." The announcement was published on Mubadala's website and distributed via Business Wire.