August 11

Uber Partner Moove Secures $76 Million in Funding Led by Mubadala

Moove, a company founded in 2020 in response to the lack of vehicle financing faced by over two million Africans, has secured $76 million in new funding, consisting of $28 million in equity from new and existing investors, in a process led by Mubadala Investment Company (Mubadala), the Abu Dhabi sovereign fund.

Moove is Uber’s largest vehicle partner in EMEA and the second-largest vehicle partner in India. It also operates the largest EV fleet by supply hours on the Uber platform in the UAE, despite launching only four months ago. The company is experiencing 17x revenue growth following its Series A fundraising two years ago.

Photo courtesy of khengsiong.

Source: Arabian Business (link opens in a new window)

Technology, Transportation
corporations, electric vehicles