Moove, the Nigerian mobility fintech founded by Ladi Delano and Jide Odunsi in 2020, has officially joined the ranks of Africa’s unicorns, securing fresh investment from a roster of global financial heavyweights as it accelerates its autonomous vehicle ambitions.
The funding round attracted new participation from BlueCrest Capital Management, Sona Asset Management, and The Raptor Group, alongside existing backers including BlackRock, MUFG, Franklin Templeton, and Uber.
Autonomous Expansion
The allocated capital will be deployed to expand Moove’s autonomous vehicle division, which involves the acquisition of self-driving fleets and the establishment of “Nests”—robotics-centric depot facilities designed for the charging, maintenance, and repair of autonomous vehicles.
Simultaneously, Moove plans to grow its autonomous vehicle workforce by approximately 220 percent, increasing headcount from roughly 150 to 500 personnel by the end of the year.
From Startup to Unicorn
What began as a vehicle financing startup—addressing the primary challenge of ride-hailing operators in Africa through a revenue-based model allowing drivers to pay back loans using a portion of weekly earnings—has rapidly evolved into one of the continent’s fastest-growing technology enterprises.
Moove expanded beyond Africa to Europe, the Middle East, Asia, and Latin America, backed by investors including Uber and Mubadala Investment Company. The startup’s annual recurring revenue (ARR) grew from $275 million in 2024 to approximately $400 million in 2025.
Financial Milestones
To solidify its position as a top global unicorn, Moove previously explored a $300 million investment round in 2025 targeting a $2 billion valuation—a goal achieved in this latest round.
Additionally, the company demonstrated financial maturity to international lenders in 2025 by repaying approximately $100 million in loans and clearing its original debt facilities.
Global Footprint
Since its founding, Moove has developed the operational platform, fleet, and capital needed to deploy and operate efficient human-driven ride-hail mobility assets at scale. Today, it is one of the largest ride-hailing fleets globally, with:
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3,300 employees worldwide
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Over 42,000 cars operating across 29 cities in 13 countries
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$420 million in annual recurring revenue (ARR)
This growth has been achieved through a combination of organic expansion and strategic acquisitions, including Tokyo Taxi in Japan and Kovi in Brazil.
Nigeria’s Unicorn Club
Moove’s achievement marks the latest unicorn milestone for Nigeria’s tech ecosystem, following Moniepoint’s $110 million Series C funding round in October 2024, which valued the financial services platform at $1 billion.
Moniepoint: Nigeria’s Unicorn Pioneer
Moniepoint, founded by Tosin Eniolorunda and Felix Ike in 2015, raised $110 million in a Series C round led by Development Partners International’s African Development Partners (ADP) III fund, with participation from Google’s Africa Investment Fund and Verod Capital.
At the time, Moniepoint boasted over 800 million transactions monthly, with a total value exceeding $17 billion, all while operating profitably. The company began by supplying payment infrastructure and banking technology to financial institutions before transitioning to directly serving SMEs through digital banking, payments, credit, and business management solutions.
