Uber is reportedly in discussions to invest in Moove, an African vehicle-financing startup, in a funding round potentially reaching $100 million, according to Bloomberg sources.
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Moove recently concluded a $76 million equity and debt funding round in August 2023, with participation from investors such as BlackRock Inc. and Mubadala Investment Co. Moove uses credit scores to help drivers buy new vehicles for ride-hailing and deliveries.
This strategic investment is expected to significantly boost Moove’s overall enterprise value, potentially reaching close to $750 million, up from its present valuation of roughly $650 million.
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