Moove, an Amsterdam-based mobility fintech providing revenue-based vehicle financing to ride-hailing drivers, has raised $250 million in Series C funding led by Mubadala Investment Company at a $2.1 billion valuation. The company operates a Drive-to-Own model that lets drivers pay from earnings toward vehicle ownership and is now expanding into autonomous vehicle fleet operations through a partnership with Waymo. The capital will accelerate autonomous infrastructure including robotics-first depots called Nests.
Autonomous Infrastructure Draws Sovereign Capital
The timing aligns with autonomous vehicle fleets moving from pilots to commercial scale. Waymo has expanded operations, and Moove secured the role as its first non-U.S. scale fleet operations partner in Phoenix, Miami, and now London. Competitors like Planet42 raised $150M+ in equity and debt while Autochek secured roughly $22.6M. Moove differentiates by combining revenue-based financing, ride-hailing platform integration, and autonomous fleet management.
Revenue-Based Model Unlocks Credit Access
Traditional lenders exclude gig workers lacking credit histories. Moove's approach uses real-time earnings data from platforms like Uber to underwrite risk. The company has financed 89 million trips and grown from 76 vehicles in Lagos in 2020 to roughly 42,000 vehicles across 29 cities in 13 countries. It reports approximately $420 million in annual recurring revenue.
Fleet Operations Layer Extends Beyond Financing
Moove now owns and manages autonomous vehicle fleets, including purpose-built depots for charging, maintenance, and orchestration. This infrastructure play addresses the bottleneck for robotaxi scaling where software alone is insufficient. The company started with human drivers in emerging markets but is shifting emphasis toward developed-market autonomous operations.
"Every major technology revolution eventually becomes an infrastructure race. The internet needed data centres, AI needs compute, and autonomy needs fleets, charging, maintenance, data systems," said co-founder Ladi Delano.
Mubadala Backs Global AV Expansion
Mubadala's lead investment signals strategic interest from Gulf sovereign wealth in autonomous mobility infrastructure. Existing backers including Uber, BlackRock, and MUFG participated alongside new investors such as Woven by Toyota and Ion Pacific. The round follows a prior $100 million Series B led by Uber in 2024.
Ride-Hailing and AV Markets Converge
The automotive fintech sector is projected to reach $2.87 trillion in 2026 according to Fortune Business Insights, while the narrower automotive fintech segment is expected to grow at 16.57% CAGR. Ride-hailing markets continue expanding alongside EV and autonomous transitions. Moove's position at the intersection of financing, platform integration, and fleet operations gives it a distinct role as competitors remain focused on narrower segments.
Founders Scale From Lagos Origins
Co-founders Ladi Delano and Jide Odunsi launched the company in Nigeria in 2020 before moving headquarters to Amsterdam. The team has grown to 3,300 employees globally while maintaining the original Drive-to-Own program that has produced graduates in Ghana and South Africa.
Next Phase Targets More Markets
With the Waymo partnership live in multiple cities and London expansion confirmed, Moove plans further autonomous fleet deployments. The funding supports growth in autonomous headcount and infrastructure across additional cities.