Moove

UAE-headquartered company that finances, owns and operates vehicle fleets, including autonomous fleets for Waymo. It announced a USD 250 million Series C at a USD 2.1 billion valuation in August 2026.

Industry: Vehicle financing and fleet operations | Location: Dubai, United Arab Emirates | Founded: 2020 | Total Funding: about USD 694M (as reported)

About Moove

Moove is a mobility company headquartered in the UAE that finances, owns and manages vehicles. It was founded in Lagos, Nigeria, by Ladi Delano and Jide Odunsi; the company itself gives 2020 as its founding year, though some accounts say 2019. It began by financing cars for ride-hailing drivers through a drive-to-own model and became Uber's largest fleet partner worldwide. It now operates about 42,000 vehicles across 29 cities in 13 countries, employs more than 3,300 people and reports annual recurring revenue of roughly USD 420 million, according to Wamda. In August 2026 Moove raised a USD 250 million Series C at a valuation of USD 2.1 billion. The round was led by Abu Dhabi's Mubadala Investment Company and co-led by Woven Capital, Toyota's growth fund, and Ion Pacific. BlueCrest Capital Management and Sona Capital also took part, and further participants reported by Sharikat Mubasher included BlackRock, MUFG, Franklin Templeton and Uber. The round takes total funding to roughly USD 694 million. Mubadala had led Moove's USD 100 million Series B in March 2024, which valued the company at USD 750 million and included Uber, and a Mubadala executive said its first investment came three years earlier. The company is repositioning itself from vehicle financing towards infrastructure for autonomous vehicles. Under a deal struck in December 2024 it manages fleet operations and charging for Waymo's driverless service in Phoenix and Miami, with London named as the next market. New capital will fund what it calls Nests, robotics-focused depots where autonomous fleets are charged, serviced, maintained and orchestrated. Moove plans to grow its autonomous mobility workforce from about 150 to 500 by the end of 2026. Expansion has also come through acquisitions. In January 2025 Moove bought Kovi, a São Paulo-based urban mobility provider, in an all-share deal that lifted its fleet to about 36,000 vehicles, and it has also acquired Tokyo Taxi in Japan. In October 2026 Nairametrics reported that Moove is preparing to close its Nigerian operations, transferring eligible vehicles, valued at about N35 billion, to existing customers at no extra cost from 1 October 2026. Delano and Odunsi, who earlier co-founded the venture studio Grace Lake Partners, are co-chief executives.

Leadership

Related News & Coverage