Moove, a fintech innovator from Nigeria, has taken another bold step in its global journey by partnering with Waymo, Alphabet’s self-driving vehicle unit. This collaboration places Moove at the forefront of autonomous vehicle fleet management in the U.S., specifically in Phoenix, Arizona, and Miami, Florida.
The partnership underscores Moove’s groundbreaking approach to revenue-based vehicle financing and its ambitious expansion strategy. With substantial funding, including a $100 million Series B round led by Uber earlier this year, Moove has broadened its horizons, recently entering markets such as Mexico and India. This progress reflects the growing influence of African startups in solving global mobility challenges.
Founded in 2020, Moove focuses on providing mobility entrepreneurs with access to vehicles through an earnings-based repayment system. This model has enabled thousands of drivers, particularly those underserved by traditional banking systems, to join the gig economy. By tackling vehicle ownership barriers in emerging markets, Moove has created a scalable solution that resonates internationally.
For Waymo, the partnership signals a new chapter in its autonomous vehicle operations. By leveraging Moove’s expertise in fleet financing and management, the collaboration aims to enhance Waymo’s logistics while showcasing the potential of African firms in high-tech sectors.
“This partnership is a testament to the innovative capacity of African startups and their ability to address complex global needs,” a spokesperson for Moove commented.
Moove’s trajectory mirrors a broader trend of African fintech companies gaining recognition on the global stage. Beyond its recent funding success, Moove raised $76 million in 2023 to build the largest tech-driven financial services platform for mobility entrepreneurs. Such milestones highlight the increasing globalization of African innovation.
