Moove, a mobility finance and financial services company founded in Nigeria in 2020, has raised $250 million in Series C funding, valuing the company at $2.1 billion. The new valuation marks an increase from the $750 million valuation reported in 2024 and gives Moove unicorn status.
The company provides vehicle financing and financial services to mobility entrepreneurs. The latest funding makes Moove one of the African private technology companies to reach a valuation above $1 billion, according to the source material.
Moove is also part of the Endeavor network, a global community of entrepreneurs and organisations supporting high-growth companies. The company is one of four African companies to have reached unicorn status most recently through the network, alongside Tyme, Moniepoint and MNT-Halan.
“Moove is another powerful example of what happens when African entrepreneurs solve real, mass-market problems and build with global scale in mind,” says Alison Collier, Managing Director of Endeavor South Africa. “Its $2.1 billion valuation is important not simply as a headline number, but as further evidence of the significant value being created within Africa’s private markets. As these companies continue to grow and build value, they are likely to create credible exit opportunities and realised returns for investors, helping to recycle capital and confidence into the next generation of businesses.”
The funding comes as research by Endeavor South Africa, the SA SME Fund and SAVCA points to an increase in venture-backed exits and realised returns in South Africa. The research also identifies a pipeline of private companies that could generate future venture capital exits as the market develops.
