Moove, the mobility fintech founded by Nigerian entrepreneurs Ladi Delano and Jide Odunsi, has raised $250 million in a fresh Series C funding round, lifting its valuation to $2.1 billion and cementing its place among Africa’s tech unicorns as it doubles down on autonomous vehicle infrastructure.

The funding, first reported by Bloomberg, was led by the Abu Dhabi sovereign wealth fund Mubadala Investment Company, alongside co-leads Woven Capital, Toyota’s growth fund, and Ion Pacific. New institutional backers, including BlueCrest Capital Management and Sona Capital, have also joined a cap table that already includes heavyweight names such as Uber, BlackRock, and Franklin Templeton.

The raise marks a defining moment for one of Africa’s biggest startup success stories. In just six years, Moove has evolved from helping ride-hailing drivers in Lagos finance their vehicles into a global fleet management company building infrastructure for the autonomous mobility era.

Founded in 2020, the company introduced a revenue-based financing model that enabled drivers to purchase vehicles using their earnings history rather than traditional credit scores. The model addressed one of the biggest barriers facing ride-hailing drivers across emerging markets, where access to vehicle financing remains limited, and helped Moove build a business that could expand beyond its original market.

That strategy fueled rapid expansion across Africa, Europe, the Middle East, Asia and North America.

According to Bloomberg, Moove now manages about 42,000 vehicles across 29 cities in 13 countries and generates roughly $420 million in annual recurring revenue.

The latest funding comes just over two years after Moove raised a $100 million Series B led by Uber at a $750 million valuation. That round also saw the company move its global headquarters to the United Arab Emirates. Before the new investment, it had secured more than $250 million in equity and $210 million in debt financing.

Moove moves into autonomous mobility

The new capital signals a strategic shift beyond vehicle financing. Moove is positioning itself as an infrastructure partner for autonomous vehicle operators, expanding its role from financing fleets to managing them. Central to that strategy is the rollout of robotics-enabled depots, known internally as “Nests,” where self-driving vehicles can be charged, cleaned, serviced and inspected with minimal human intervention.

The company is also deepening its partnership with Waymo, managing autonomous ride-hailing fleets in Phoenix, Miami and London. The new funding will help scale those operations as commercial deployment of self-driving vehicles accelerates.

For Africa’s technology ecosystem, the milestone is significant. While many startups on the continent remain focused on solving local challenges, Moove has translated an African-born business model into a global mobility platform, attracting some of the world’s largest institutional investors in the process. Its rise also highlights how mobility finance, fleet operations and autonomous vehicle infrastructure are increasingly converging in the same startup stack, with capital flowing toward the companies that can support that transition.

Its $2.1 billion valuation now places it among Africa’s most valuable technology companies and underscores investor confidence in mobility infrastructure as autonomous transportation moves closer to the mainstream.