Total amount raised
$514 Million
Latest funding date
8/1/2026
Location
Moove has successfully raised funding, most recently a USD 250 million Series C in August 2026, led by Mubadala and co-led by Woven Capital and Ion Pacific. The company is backed by 40 investors, including Palm Drive Capital and Triatlum Advisors.
Keep reading to explore the intricacies of Moove's fundraising journey and the investors backing this innovative platform.
What Is Moove?
Moove is a technologically integrated vehicle financing platform aimed at mobility entrepreneurs. Operating in the automotive, financial services, and fintech industries, the company is headquartered in the UAE and has about 3,300 employees. It was founded in Lagos and announced its exit from Nigeria in October 2026.
Moove offers vehicle ownership and financing solutions, emphasizing gender equality, clean energy, and financial inclusion. The company is private and currently in the Series C funding stage, having raised funds from 40 investors. Moove has also made an acquisition, purchasing Kovi.
How Much Funding Has Moove Raised?
- Series C
- Amount Raised: USD 250,000,000
- Date: August 2026
- Lead Investors: Mubadala Investment Company (co-led by Woven Capital and Ion Pacific)
- Valuation at Round: USD 2.1 billion
- Motivation Behind the Round: To expand Moove's autonomous vehicle business, including autonomous fleet ownership and robotics-first depot infrastructure, and to support new market launches globally.
- Series B
- Amount Raised: USD 100,000,000
- Date: March 2024
- Lead Investors: Uber
- Valuation at Round: USD 750,000,000
- Motivation Behind the Round: To expand Moove's vehicle financing offerings to 16 markets globally by the end of 2025, with a significant focus on electric vehicles (EVs).
- Debt Financing
- Amount Raised: USD 10,000,000
- Date: February 2024
- Lead Investors: Stride Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational expansion and enhance financial stability.
- Debt Financing
- Amount Raised: USD 10,000,000
- Date: August 2023
- Lead Investors: BlackRock
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To increase vehicle supply and support market expansion.
- Private Equity
- Amount Raised: USD 66,000,000
- Date: August 2023
- Lead Investors: Mubadala
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance market presence.
- Debt Financing
- Amount Raised: USD 8,000,000
- Date: July 2023
- Lead Investors: Absa CIB
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support financial stability and operational growth.
- Debt Financing
- Amount Raised: USD 30,000,000
- Date: December 2022
- Lead Investors: Franklin Templeton
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial stability and support market expansion.
- Undisclosed
- Date: November 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and market expansion.
- Debt Financing
- Amount Raised: GBP 15,000,000
- Date: October 2022
- Lead Investors: Emso Asset Management
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support financial stability and operational growth.
- Debt Financing
- Amount Raised: USD 20,000,000
- Date: July 2022
- Lead Investors: Absa CIB
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance financial stability and support market expansion.
- Debt Financing
- Amount Raised: USD 20,000,000
- Date: June 2022
- Lead Investors: British International Investment
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support operational growth and market expansion.
Total Amount Raised: USD 514,000,000. Current Valuation: USD 2.1 billion (August 2026 Series C). Sum of USD-stated rows; the October 2022 GBP 15 million debt and the undisclosed November 2022 round are excluded, and earlier rounds are not listed.
Key Investors
- Woven Capital
- Details: Woven Capital is Toyota's growth-stage investment fund. It co-led Moove's USD 250 million Series C in August 2026 with Ion Pacific, alongside lead investor Mubadala.
- Investment Focus Areas: Growth-stage mobility, automation and related technology companies
- Notable Investments: Nuro, Stoke Space, CesiumAstro
- Ion Pacific
- Details: Ion Pacific is an investment firm that has backed Moove for more than five years, per its co-CEO Michael Joseph. It co-led Moove's USD 250 million Series C in August 2026 with Woven Capital, alongside lead investor Mubadala.
- Investment Focus Areas: Not publicly disclosed
- Notable Investments: Not publicly disclosed
- Uber
- Details: Uber Technologies, Inc. is an American technology company known for its ride-hailing services. It has expanded its services to include food delivery, freight, and electric bikes and scooters.
- Investment Focus Areas: Mobility, transportation, logistics, technology.
- Notable Investments: Lime, Aurora, Cornershop.
- Mubadala
- Details: Mubadala Investment Company is a sovereign wealth fund owned by the government of Abu Dhabi in the United Arab Emirates. It manages a diverse portfolio of investments across various sectors globally.
- Investment Focus Areas: Aerospace, ICT, semiconductors, metals & mining, renewable energy, oil & gas, petrochemicals, utilities, healthcare, real estate, financial investments.
- Notable Investments: GlobalFoundries, Cepsa, Yahsat, Masdar.
- Palm Drive Capital
- Details: Palm Drive Capital is a venture capital firm that invests in technology companies.
- Investment Focus Areas: Technology companies.
- Notable Investments: Not publicly disclosed.
- Triatlum Advisors
- Details: Triatlum Advisors is an investment advisory firm.
- Investment Focus Areas: General investment advisory.
- Notable Investments: Not publicly disclosed.
- Future Africa
- Details: Future Africa is a venture capital firm investing in African startups.
- Investment Focus Areas: African startups, innovation.
- Notable Investments: Not publicly disclosed.
What's Next for Moove?
Moove's August 2026 Series C will support the expansion of its autonomous vehicle business, including fleet ownership and robotics-first depot infrastructure, and new market launches globally. The company plans to introduce 45,000 new vehicles, with a significant focus on electric vehicles (EVs), to create a sustainable mobility ecosystem. This expansion is poised to serve over two million mobility entrepreneurs, driving substantial growth and innovation in the industry.
After the Series C, future fundraising opportunities are likely to include additional equity and debt financing rounds. Strategic partnerships with major players in the mobility and fintech sectors could further bolster Moove's growth. The company's commitment to sustainability and innovation positions it well for continued investment and potential acquisitions to enhance its technological capabilities and market reach.
However, Moove will face challenges such as scaling operations across multiple international markets, navigating diverse regulatory environments, and ensuring the profitability of its expansions. The transition to a 100% EV fleet and the development of the necessary infrastructure will also be critical hurdles. Despite these challenges, Moove's strategic focus and robust support from investors like Uber and Mubadala provide a strong foundation for its ambitious goals.
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