MOOVE

Ladi Delano and Jide Odunsi saw a massive problem that no one was solving: millions of people in Africa wanted to be Uber or Bolt drivers, but could not get vehicle financing from a bank. Traditional auto loans require credit histories that most informal workers do not have.

Moove launched in 2019 with a brilliant insight: use the Uber driver's future earnings as collateral. Instead of asking "do you have credit?" they asked "do you have an Uber account?" Uber invested directly, seeing Moove as a way to grow its own driver supply in underserved markets.

Moove expanded from Nigeria to Ghana, Kenya, Egypt, UAE, India, and beyond.

Moove provides revenue-based vehicle financing to mobility workers — ride-hailing and delivery drivers in Africa, Asia, and the Middle East. Instead of requiring a credit score or large down payment (barriers that eliminate most applicants in emerging markets), Moove finances the vehicle and takes a percentage of the driver's weekly earnings until the vehicle is paid off.

Revenue comes from the interest margin on vehicle financing and from service fees on the financed vehicles.

Moove vehicle financing (revenue-based auto loans for gig drivers), Moove for Uber (embedded driver financing), vehicle tracking and telematics

Uber's strategic investment was the master distribution key. Moove embedded itself as the default financing solution for new Uber driver sign-ups in its markets.

It then expanded to other platforms: Bolt, delivery apps, and logistics companies. Mubadala (Abu Dhabi's sovereign wealth fund) invested, signaling the Middle East expansion as a major strategic priority.

Vehicle financing carries real credit risk — drivers who do not earn enough to cover their weekly repayment create losses. Moove had to build credit scoring models based on gig economy earnings data rather than traditional financial metrics.

Managing repossession of financed vehicles in multiple countries with different legal systems adds operational complexity. The model also depends on continued strong partnerships with Uber and other ride-hailing platforms for both distribution and earnings data.

Uber, AfricInvest, Mubadala Investment Company, NBK Capital Partners, Left Lane Capital