Tuesday
February 1
2022

African Mobility Fintech Company Moove Secures $10 Million Financing From NBK Capital Partners

By Victor Oluwole

Moove, the African mobility fintech company, has today announced the closing of a US$10 million financing facility from NBK Capital Partners, strengthening the company’s mission to democratise vehicle ownership across Africa.

The new funding will primarily support Moove’s expansion across West Africa as the company pushes to address the major vehicle financing gap across the continent.

Founded in 2019 by Ladi Delano and Jide Odunsi, Moove is an African mobility fintech democratising vehicle ownership by providing revenue-based vehicle financing to mobility entrepreneurs across Africa. The company provides vehicle financing for cars, bikes and lorries to mobility entrepreneurs across the continent through its alternative credit scoring technology and innovative revenue-based financing model.

Photo courtesy of Moss.

Source: Business Insider Africa (link opens in a new window)

Categories
Technology, Transportation
Tags
financial inclusion, fintech, transportation