The African ride-hailing company Moove has attracted $1.2 billion in one of the largest debt financing rounds for startups, opening new opportunities for the company.
Funding for Autonomous Driving
The raised funds will primarily be used for deploying an autonomous fleet in partnership with Alphabet's Waymo. This marks a significant milestone for both Moove and the entire African tech ecosystem.
Expansion into the US Market
Additionally, the funds will support Moove's ambitious expansion into the United States, strengthening the company's position in innovative transportation solutions. Currently, Moove operates in Nigeria, South Africa, and Kenya.
Moove's Financial Successes
The company achieved significant revenue growth, increasing to $400 million in 2025 from $275 million in 2024. In 2025 alone, Moove repaid approximately $100 million in loans, highlighting its financial discipline and operational strength.
The acquisition of $1.2 billion demonstrates a growing confidence in vehicles and their impact on disrupting traditional ride-hailing models in Africa and beyond.
