Uber’s financing partner has raised $23 million to create more car owners in Africa

A strategic Uber partner in a rising industry

Moove operates in an emerging car financing industry in Africa that includes Planet24, a company based in South Africa which raised $10 million last year. In Nigeria, Autochek and Jiji (which acquired Cars45) are the main players.

These four are similar in that their overall aim is to offer cars to people who want to pay in installments, but one strategy currently differentiates Moove.

In July 2020, Moove became Uber’s exclusive partner in sub-Saharan Africa for vehicle financing and supply. In announcing the deal, Uber described it as “the largest partnership of its kind” and makes the startup a fleet manager in the 7 countries and 41 cities where Uber operates. It points to Moove’s impressive scale and growth in the industry.  Moove was founded in 2019 by Ladi Delano and Jide Odunsi, two Nigerians who run other businesses including a chain of clinics and pharmacies.

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