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Uber-Driver Supplier Moove Raises $105 Million For New Markets

  • Nigeria startup has now raised $174.5 million from investors
  • Vehicle financier looks to expand in Asia and Middle East
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Photographer: Patricia Monteiro/Bloomberg

Moove Africa BV, a Nigerian startup that provides vehicle financing to Uber Technologies Inc. drivers among others, raised $105 million to expand operations in new markets including in Asia and the Middle East.

The round brings the total raised by the fintech group to $174.5 million. The funding was led by existing investors, Speedinvest, Left Lane Capital and thelatest.ventures, with the participation of new backers including AfricInvest, MUFG Innovation Partners, Latitude and Kreos Capital, Moove said in a statement Monday.