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Moove | Company profile, Business Model, and Operations

Recieved Funding?
yes
Type of Funding
Venture capital, Series B Funding, Equity capital
Number of Funding Phases
16
Business Type
Private Company

All you need to know about Moove

About Us

Moove is a mobility fintech company on a mission to drive productivity and success for the world’s mobility entrepreneurs by democratizing access to vehicle ownership for those with limited or no access to a vehicle or vehicle financing.

The company embeds its alternative credit-scoring technology onto ride-hailing, logistics, and last-mile/instant delivery platforms, which allows access to proprietary performance and revenue analytics of mobility entrepreneurs to underwrite loans.

We use our revenue-based financing model on a global scale to serve millions of entrepreneurs in the mobility industry.

Our History

Moove was founded in 2020 and started with Nigeria, Ghana, and South Africa. The company allows drivers to get cars and pay for them in daily installments from the income they make by driving for Uber. Since its launch, Moove has signed up over 20,000 drivers, the majority of whom are in Lagos.

Moove is already profitable in the UAE, India, the U.K., and South Africa. The company’s co-CEO Ladi Delano said Moove will become fully profitable by the next financial year.

Moove is also pushing for EVs, as they have lower maintenance costs, lower fuel costs, and get government subsidies in some markets.

Our Vision

Our vision is to build the largest integrated vehicle financing platform for mobility entrepreneurs using technology & future productivity.

Our Mission

Moove is on a mission to drive productivity and success for the world's mobility entrepreneurs by democratising access to vehicle ownership.

Our Core Values

Our values embody everything we do, as they not only help us be the best employees for one another, but also for our customers.

Let’s Moove them

We believe each interaction with each customer and Moover should always positively Moove them.

Prove your Moove

We are a data driven business and believe in measuring and acting on data.

Moove Simple

We believe that the simple way is the best way.

Moove Well

We are proud to get things done well whilst continuously iterating and improving.

Moove Fast

We encourage one another to be bold and decisive as our customers need us to Moove fast.

Be Mooke

*(Rhymes with woke). We are a woke group of people who are focused on always doing what is right.

Moove Together

We believe in collaboration & teamwork in everything we do.

Own your Moove

We believe all Moovers should own your turf. This includes your successes, your mistakes and your responsibilities.

Our Services

Moove provides customers with access to vehicle financing, as well as a range of financial services that were previously inaccessible to them and their families.

They provides revenue-based vehicle financing and financial services to mobility entrepreneurs across ride-hailing, logistics, mass transit, and instant delivery platforms.

Our Business Model

Moove’s model is to provide loans to its customers by selling them new vehicles and financing up to 95 percent of the purchase within five days of signup. This data then empowers Moove to offer a wide range of other relevant financial products to their users.

The mobility fintech procures fleets of vehicles, subsequently selling them to drivers via its platform. Using its software, it offers financing to drivers based on a credit-scoring system, making it easier for them to buy new cars designed for delivery, logistics, and ride-hailing.

Rather than requesting drivers to pay a portion of the vehicle's cost like its competitors, drivers sign an agreement to remit a portion of their daily earnings to the company until they complete the payment for the vehicles.

Related Topics


Industry

Jide Odunsi
Ladi Delano

Moove
Business Model

The Company major services and product include: Fintech, Transportation, Car financing

The Company was Founded
The Company was established on
August 5, 2020
HeadQuarters
The Company has its Operational Headquarters at 350, Maryland Mall Ground Floor, 360 Ikorodu Rd, beside Krispy Kreme Doughnuts, Ikeja, Lagos
Industry
The Company is contributing to the development of the Industry FinTech, Travels
Staff Strength since Inception
The Company prides in her team member of about 51 - 100 active members

Moove Business Model

The Company major services and product include: Fintech, Transportation, Car financing

yes
Have they recieved Funding from VCs
yes
Have they recieved Funding from VCs
yes
How many number of Funding rounds?
0 million
Company Net worth as of 2023

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