Moove, a mobility fintech company co-founded by British-Nigerian entrepreneur Ladi Delano, is reportedly close to raising $1.2 billion in debt funding to support its expansion in the United States.
The funds are expected to help drive the rollout of autonomous vehicles in partnership with Waymo.
In response to the reports, Delano stated that while details of ongoing discussions could not be disclosed, Moove has repaid its initial debt facilities and maintains active relationships with global lenders.
In January, Moove acquired Brazilian mobility platform Kovi, extending its operations to Brazil and Mexico.
The deal included Kovi’s fleet, software, and driver analytics technology.
Since its launch in 2020, Moove has financed more than 36,000 mobility entrepreneurs in 19 markets across Africa, the Middle East, Europe, Asia, and Latin America. Its vehicles have completed over 50 million trips.
In the UAE, the company is piloting a fully electric vehicle fleet supported by its own charging infrastructure.
Moove entered the U.S. market in 2023 through a partnership with Waymo, managing charging, cleaning, and storage for Waymo’s electric robotaxi fleet in Phoenix and Miami.
In 2024, Moove raised $100 million at a $750 million valuation with backing from Uber and Mubadala Investment Company.
