The funding will be used to bolster Moove’s expanding vehicle fleet in Ghana
Moove expansion to India, its first expansion outside of Africa, is part of its mission to close the finance gap for mobility entrepreneurs globally
The investment will accelerate Moove’s mission to democratise access to vehicle ownership in Nigeria
Moove has partnered with Swvl Inc. to scale Moove’s revenue-based vehicle financing model across the MENAP (Middle East, North Africa, and Pakistan) region, as well as expand vehicle classes to include electric buses.
Moove has secured $105 million in an oversubscribed Series A2 round* consisting of equity and debt. The round was led by Speedinvest, Left Lane Capital and thelatest.ventures
The partnership, which will leverage CFAO’s local network and extensive presence, will allow the rapid delivery of brand new vehicles that are more environmental friendly.
Moove Africa has received a $10 million financing facility from NBK Capital Partners Mezzanine Fund II, bringing its total funding raised to $78.2 million.