Nigeria’s Moove has emerged as Africa’s most valuable mobility startup, reaching a $2.1 billion valuation after closing a $250 million Series C funding round, overtaking Egypt’s MNT-Halan and Algeria’s Yassir to become the continent’s highest-valued transport technology company.
The funding round, announced this week, is also the largest single fundraising disclosed by an African startup in 2026, reflecting growing investor confidence in companies building mobility infrastructure rather than traditional ride-hailing platforms.
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The investment was led by Mubadala Investment Company, with participation from existing and strategic investors including BlackRock, Uber and Toyota’s Woven Capital. The proceeds will be used to expand Moove’s autonomous vehicle fleet operations and deepen its global infrastructure business.
Founded in Lagos in 2020 by Ladi Delano and Jide Odunsi, Moove initially tackled a major challenge facing Uber and Bolt drivers in Nigeria, which is limited access to vehicle financing. The company developed a revenue-based financing model that enabled drivers to acquire vehicles and repay loans directly from their earnings.
