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Headline : Uber leads $100M investment in African mobility fintech Moove as valuation hits $750M

Read more from the original article on here at techcrunch.com.





Tags : #uber #leads #100m #investment #african #mobility #fintech #moove #valuation #hits #750m


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Moove, an African mobility fintech that offers vehicle financing to ride-hailing and delivery app drivers, has raised $100 million in a funding round as it plots expansion into new markets.

Moove did not say who is leading the round, but sources close to the deal confirmed to TechCrunch that Uber led the Series B round, making it the company’s first investment in the African continent. Update: After we published this article, Moove confirmed Uber led the investment in a LinkedIn post.

The round also includes sovereign wealth fund Mubadala and several other investors, pushing Moove’s post-money valuation to $750 million. This is up from the $550 million secured last August in a Mubadala-led equity and debt round. The news confirms a Bloomberg report from last month. Dubai-based The Latest Ventures, AfricInvest, Palm Drive Capital, Triatlum Advisors, and Future Africa also participated in the funding round.

The company has raised $250 million in equity (and $210 million in debt) to date.

Read more from the original article on here at techcrunch.com.


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