Nigerian mobility fintech Moove has raised USD 250 million in a Series C funding round at a post-money 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 around USD 750 million previously, marking a sharp step-up in the company's implied worth as it pivots more deeply into autonomous vehicles.
The round was co-led by Woven Capital, the growth fund of Japan's Toyota, and Ion Pacific. Additional participants included BlackRock, MUFG, Franklin Templeton, Uber, BlueCrest and Sona Capital, giving the round a spread of strategic and financial backers from across global mobility, banking and asset management, and reflecting the increasingly cross-sector nature of investment into the autonomous mobility supply chain.
AUTONOMOUS VEHICLE PIVOT
Moove said proceeds will be used to scale its autonomous vehicle business, expand what it calls its robotics-first depot infrastructure and grow its autonomous vehicle workforce from around 150 to about 500 by the end of 2026. The plan positions the company as an operator of the physical infrastructure that self-driving fleets rely on rather than as a developer of the underlying driving software, a distinct role in the emerging robotaxi value chain.
The company's origins lie in vehicle financing for ride-hailing drivers in African cities, where it built a model that combined asset ownership, revenue-based repayment and integration with mobility platforms. It has progressively broadened both its geographic reach and the types of vehicles it finances and manages, and the Series C funding accelerates a move up the value chain into fleet operations for robotaxi partners in developed and emerging markets.
Depot infrastructure is expected to be a critical bottleneck as autonomous vehicle deployments scale, because self-driving fleets require specialised facilities for cleaning, charging, sensor calibration and remote operations. By positioning itself as a provider of that infrastructure, Moove is targeting a defensible role in the emerging robotaxi economy, one that is complementary to the technology stacks being developed by autonomous driving software companies.
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 annualised revenue. The scale of the existing fleet gives the company an operational base against which to layer the new investments in autonomous depots and workforce, and provides a substantial recurring revenue stream to support the expansion.
The USD 250 million cheque is one of the largest single funding rounds ever raised by an African-founded technology company, and the USD 2.1 billion valuation places Moove firmly among the highest-valued Africa-linked private companies globally. The participation of investors such as BlackRock and Franklin Templeton is a notable signal of institutional interest in the company.
The involvement of Mubadala as lead investor and Toyota's Woven Capital as co-lead, alongside Uber and large institutional asset managers, highlights the extent to which sovereign, corporate and financial investors are seeking direct exposure to the infrastructure layer of the emerging autonomous mobility industry. The full announcement was published on Mubadala's website and covered by the company's press channels.