Moove has secured $250 million to accelerate its shift from financing ride-hailing vehicles to managing robotaxi fleets.
The Series C funding values the Nigerian-founded company at $2.1 billion. Investors believe companies building self-driving cars will need experienced partners to handle the vehicles, service centres and daily operations as robotaxi services enter more cities.
Moove Latest Funding Series Led by Mubadala to Accelerate Robotaxi Expansion
Abu Dhabi’s Mubadala Investment Company led the funding round, while Toyota’s Woven Capital and Ion Pacific joined as co-leads. New investors included BlueCrest Capital Management, Sona Asset Management and The Raptor Group. BlackRock, MUFG, Franklin Templeton and Uber also returned as investors.
Moove started in Lagos in 2020 by helping ride-hailing drivers access cars they could not afford to buy outright. The drivers paid for the vehicles through part of the money they earned from trips. Moove says it has grown from 76 vehicles in Lagos to about 42,000 vehicles across 29 cities in 13 countries.
The company is now paying more attention to robotaxi operations. It manages parts of Waymo’s self-driving fleet by charging, cleaning, maintaining and preparing the vehicles for daily trips. The partnership started in Phoenix before expanding to Miami and London.
Moove believes robotaxi companies will prefer to hire outside operators instead of building their own service centres and maintenance teams in every city. Its investors also believe that managing these fleets will be just as important as developing the software that allows the vehicles to drive themselves.
However, Moove has not revealed how much money it makes from its Waymo partnership compared with its original vehicle-financing business. It has also not explained how it will share the new funding between both parts of the company or when it expects to become profitable.
Moove’s robotaxi plans currently depend heavily on Waymo because it has not announced another self-driving vehicle partner. A slowdown in Waymo’s expansion could also affect the number of vehicles Moove manages.
The company has also expanded through acquisitions, including its purchase of Brazilian mobility company Kovi earlier in 2025.
Investors Place Bigger Bets on Mobility Across Africa
Heavy investment is moving into different parts of the mobility industry. Moove is reported to have raised about $694 million in tracked funding as it expands from vehicle financing into robotaxi fleet management. Its latest $250 million round shows that investors are also backing the services and infrastructure needed to keep autonomous vehicles running.
The same trend is taking shape in African electric mobility. Spiro has raised about $557 million in disclosed funding, including $270 million in its latest round. The company is using the money to add more electric motorcycles, build battery-swapping stations and enter new markets.
Moove already sits within Crunchbase’s unicorn hub, while Spiro has not yet reached that level. However, its growing funding and expansion across Africa suggest it is working towards joining Moove as a billion-dollar mobility company.
