Uber’s largest vehicle supply partner in Africa raises £15m for UK expansion

Fintech company Moove, Uber’s largest vehicle supply partner in Africa, has raised £15 million in financing from Emso Asset Management to scale up its UK operations.

Moove launched in London in August with a 100% EV rent-to-buy model that provides mobility entrepreneurs access to brand-new, zero-emissions vehicles for a flat weekly fee. The new financing facility will enable Moove to scale up to 10,000 vehicles by the end of 2025 and become the largest EV partner on Uber’s platform in London.

Founded by entrepreneurs Ladi Delano and Jide Odunsi, Moove launched in Lagos, Nigeria in 2020 to democratise access to vehicle ownership. Having now scaled to nine markets across sub-Saharan Africa and India, Moove is solving the challenge of limited access to vehicle financing for millions of gig workers across ride-hailing, logistics, and instant delivery sectors, of which there are around 4.5 million in the UK alone.

Moove’s alternative credit scoring technology provides access to vehicle financing to gig worker customers who may have previously been excluded from financial services. Over the past two years, Moove has enabled sustainable job creation and a path to asset ownership, with its customers having completed over nine million trips in Moove-financed vehicles.

London is the global leader in Uber’s electrification efforts, with over 7,000 EVs on the platform – the most of any Uber city. Moove’s London operations will enable Uber to progress towards its goal of becoming an all-electric platform in the capital by 2025.