Moove Raises $250M Series C at $2.1B Valuation

In Short

• Moove raised $250 million in a Series C round.
• The deal values Moove at $2.1 billion, confirming its unicorn status.
• The company says the funding will expand its autonomous vehicle business, including depots for charging and maintenance.

What Happened

Moove has raised $250 million in a Series C round, valuing the company at $2.1 billion. The Lagos-born mobility fintech, which blends vehicle financing and fleet operations, has been working toward this unicorn milestone for more than a year.

The round was led by Mubadala Investment Company. It was co-led by Woven Capital, Toyota’s growth fund, and Ion Pacific. New investors include BlueCrest Capital Management, Sona Asset Management, and The Raptor Group. Existing backers in the round include BlackRock, MUFG, Franklin Templeton, Uber, and others.

Moove says the capital will go into its autonomous vehicle business. Autonomous vehicles are self-driving cars that use sensors and software to move without a human driver.

A key part of the plan is owning autonomous fleets and building “Nests.” Moove describes these as robotics-first depot sites where self-driving cars are charged, serviced, and maintained.

Moove also plans a major hiring push. It expects to grow its autonomous vehicle team by more than 220% by the end of the year, from about 150 employees to around 500.

Why It Matters

Moove’s raise is one of the larger late-stage funding rounds tied to an Africa-born company in recent years. A $2.1 billion valuation also adds another confirmed unicorn with roots in Nigeria.

More importantly, the use of funds signals a shift from financing vehicles for drivers toward operating autonomous fleets and the infrastructure around them. If Moove can execute, it positions the company closer to the higher-margin parts of mobility, like fleet ownership, uptime management, and depot operations, rather than only providing capital.

The round also shows continued interest from global institutional investors in African-founded fintech and mobility businesses, especially those with expansion paths beyond the continent.