Moove Exits Nigeria After Raising Over $710 Million Globally

Moove, the Nigerian-founded mobility financing company, raised over $710 million in global funding before announcing its exit from Nigeria on October 8, 2026, six years after launching operations in the country. Founded in Lagos in 2020 by Ladi Delano and Jide Odunsi, Moove initially provided vehicle financing to ride-hailing drivers through a revenue-based repayment model.

The company attracted investments from global entities such as Uber, Mubadala Investment Company, BlackRock, and Franklin Templeton. In August 2023, Moove raised $76 million to support its expansion, followed by a $10 million debt facility from Stride Ventures in February 2024.

Moove achieved unicorn status in August 2026 after a $250 million Series C funding round, valuing the company at $2.1 billion. As part of its exit strategy, Moove will transfer vehicles worth approximately N35 billion to eligible customers, allowing them to own the vehicles outright, and will provide cars to all Nigerian staff members.