{"id":473330,"date":"2021-08-10T10:10:43","date_gmt":"2021-08-10T10:10:43","guid":{"rendered":"https:\/\/www.kapitalafrik.com\/?p=473330"},"modified":"2021-08-10T10:10:43","modified_gmt":"2021-08-10T10:10:43","slug":"moove-africa-raises-usd-23-million-to-boost-automotive-investment-in-africa","status":"publish","type":"post","link":"https:\/\/www.financialafrik.com\/en\/2021\/08\/10\/moove-africa-raises-usd-23-million-to-boost-automotive-investment-in-africa\/","title":{"rendered":"Moove Africa Raises USD 23 Million to Boost Automotive Investment in Africa"},"content":{"rendered":"<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div><p>Moove Africa, a vehicle fleet manager in Africa, has raised $ 23 million from Series A to boost its automotive investment in sub-Saharan Africa. The mobility fintech startup explained that the fundraiser will provide financing to drivers of Uber Technologies Inc. They will then be able to buy cars throughout the region of sub-Saharan Africa.<\/p>\n<p>The roundtable was led by Speedinvest and the American company Left Lane Capital, with the participation of its existing investor, Emso Asset Management.<\/p>\n<p>In addition to this transaction, Moove also revealed that it has raised $ 40 million in debt financing, bringing its total portfolio to $ 68.5 million.<\/p>\n<p>\u201cWith Ladi and Jide leading a world-class team and their unique approach to vehicle finance, Moove has quickly established itself as one of Africa&#8217;s most exciting technology companies,\u201d said Stefan Klestil, general partner of Speedinvest \u201d, adding that:\u201c the expansion of the company in three cities in less than 12 months demonstrates the huge demand for vehicle financing in Africa, where only 5% of new cars are purchased with financing, against 92% in Europe \u201d.<\/p>\n<p>Moove was founded in 2019 by Ladi Delano and Jide Odunsi, two Nigerians of British origin, graduates of the London School of Economics, Oxford University and MIT. Based in the Netherlands, Uber&#8217;s exclusive partner operates in Lagos, Accra and Johannesburg. FinTech has more than 19,000 drivers using its platform.<\/p>\n<div class=\"pdfprnt-buttons pdfprnt-buttons-post pdfprnt-top-bottom-left\"><\/div>","protected":false},"excerpt":{"rendered":"<p>Moove Africa, a vehicle fleet manager in Africa, has raised $ 23 million from Series A to boost its automotive investment in sub-Saharan Africa. The mobility fintech startup explained that the fundraiser will provide financing to drivers of Uber Technologies Inc. They will then be able to buy cars throughout the region of sub-Saharan Africa.<\/p>\n","protected":false},"author":536116,"featured_media":473331,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"aside","meta":{"pmpro_default_level":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"translated_post_url_fr":"","_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2},"jetpack_post_was_ever_published":false},"categories":[11996,12008],"tags":[12322,19665,19662,19663,17048,19664],"class_list":["post-473330","post","type-post","status-publish","format-aside","has-post-thumbnail","category-finance-en","category-stock-exchanges","tag-africa-en","tag-boost-automotive-investment","tag-moove","tag-moove-africa","tag-raises","tag-usd-23-million","post_format-post-format-aside","pmpro-has-access"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v21.5 (Yoast SEO v27.7) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Moove Africa Raises USD 23 Million to Boost Automotive Investment in Africa - Financial Afrik<\/title>\n<meta name=\"description\" content=\"Headed by Adama Wade and his team of 20 journalists, Kapital Afrik offers strategic and financial information to executives and managers. 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We will strive, and gradually, to conceive, comfort and reach them. Three versions, three approaches and a global vision. The website is constantly on the news. The newsletter relays information every morning to executives, bankers, university financiers, students. The monthly edition analyzes the information and explains the setbacks. A single credo initiates our journalistic approach: information = actors, facts = a pluralistic vision. 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