News

Mobility fintech Moove raises USD 105 mln in Series A2

Monday 14 March 2022 10:25 CET | News

Nigeria-based startup and first mobility fintech Moove has announced it raised USD 105 million in a Series A2 funding round led by global investors like SpeedInvest and Left Lane Capital, with the participation of Kreos Capital, and others.

Moove received its first Series A round of investment in August 2021, comprising of USD 23 million, and since then it added several new strategic partners to its portfolio, including two new vehicle classes. The company uses an in-house built alternative credit scoring technology to finance its customers and help them purchase new vehicles using a percentage of their weekly revenues, in areas with low access to credit. 

Moove offers revenue-based vehicle financing to mobility entrepreneurs across the African continent and is looking to use the investment to expand into seven new markets in Asia, the MENA region, and Europe.

Free Headlines in your E-mail

Every day we send out a free e-mail with the most important headlines of the last 24 hours.

Subscribe now

Keywords: funding, crowdfunding, investment, expansion, credit scoring
Categories: Payments & Commerce
Companies: Moove, SpeedInvest
Countries: Africa
This article is part of category

Payments & Commerce

Moove

|

SpeedInvest

|
Discover all the Company news on Moove and other articles related to Moove in The Paypers News, Reports, and insights on the payments and fintech industry: