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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, with the participation of new backers including AfricInvest, MUFG Innovation Partners, Latitude and Kreos Capital, Moove said in a statement Monday.