Nigerian-born fintech startup, Moove has announced a strategic partnership with Waymo, Alphabet’s self-driving vehicle division, to manage fleets of autonomous vehicles in Phoenix, Arizona, and Miami, Florida.
The collaboration highlights Moove’s innovative revenue-based vehicle financing model and underscores its aggressive global expansion strategy.
The partnership comes on the heels of Moove’s impressive fundraising efforts, including a $100 million Series B round in March 2024, led by Uber. This investment supports the company’s ongoing global expansion, which has already seen its operations extend across multiple continents, including recent launches in Mexico and India. The company’s growth marks a significant step for African startups as they continue to make their mark in global technology sectors.
Founded in 2020, Moove offers revenue-based vehicle financing to mobility entrepreneurs, a group often underserved by traditional financial institutions.
Moove has empowered thousands to join the gig economy by allowing drivers to repay vehicles using their earnings. This innovative approach has facilitated the company’s expansion into new markets like Mexico, India, and now the United States.
Waymo, a leader in autonomous driving technology, is leveraging Moove’s fleet management expertise to support its self-driving operations in Phoenix and Miami.
The collaboration also signals the growing influence of African companies, particularly in addressing complex logistics challenges with innovative solutions.
For Moove, this partnership marks its first venture into the autonomous vehicle sector. The company’s proven success in fleet financing positions it as a key player in supporting Waymo’s self-driving vehicle initiatives.
The deal reflects a broader trend of African fintech companies gaining international recognition. Moove’s journey mirrors a larger movement of African startups making their mark on the global stage, solving local challenges while developing solutions adaptable to worldwide needs.
With a $100 million Series B funding round in 2024 and a previous $76 million raised in 2023 to expand its tech-driven financial services platform, Moove’s trajectory is a testament to the growing globalization of African startups.
By tackling vehicle ownership challenges in emerging markets, Moove has developed a model with global potential. The partnership with Waymo further highlights the role African innovation is playing in shaping the future of global technology and logistics.
