Grace Ashiru
Moove, a Nigerian-born fintech startup, has announced a groundbreaking partnership with Waymo, Alphabet’s self-driving vehicle division, to manage fleets of autonomous vehicles in Phoenix, Arizona, and Miami, Florida.
This collaboration showcases Moove’s innovative revenue-based vehicle financing model and its ambitious global expansion strategy. The company’s rapid growth is backed by significant funding, including a $100 million Series B round led by Uber in March 2024.
Moove’s operations now span multiple continents, with recent expansions into Mexico and India. This remarkable growth highlights the potential of African startups to make a significant impact on advanced global technologies.
Established in 2020, Moove has revolutionized revenue-based vehicle financing, specifically catering to mobility entrepreneurs often overlooked by traditional financial institutions. By enabling drivers to pay for their vehicles through their earnings, Moove has empowered thousands to participate in the gig economy. This groundbreaking approach has driven the company’s expansion into markets such as Mexico, India, and now the United States.
Waymo, a leader in autonomous driving technology, has chosen to partner with Moove, an African startup, underscoring the significant strides African firms are making in addressing complex logistical challenges.
For Moove, this partnership represents a significant step into the autonomous vehicle sector. The company is applying its expertise in fleet financing and management to bolster Waymo’s self-driving operations, marking a milestone in its evolution.
Moove’s impressive growth is part of a larger wave of African fintech companies expanding their influence on the global stage.
This partnership highlights the growing global presence of African startups. Moove’s journey, marked by its $100 million Series B funding round led by Uber in 2024 and a prior $76 million raised in 2023, reflects a broader trend of African fintechs achieving international recognition. As the company works to build the largest tech-driven financial services platform for mobility entrepreneurs, it showcases how African startups are addressing local challenges while creating solutions with global relevance.
By tackling vehicle ownership issues in emerging markets, Moove has developed a scalable model that resonates well beyond Africa. Its success underscores the critical role African innovation plays in shaping the future of global technology and logistics.
As Moove broadens its influence, its collaboration with Waymo sets a powerful example of how African startups can make a significant impact on industries worldwide. This milestone not only highlights the immense potential within Africa’s tech ecosystem but also demonstrates the continent’s readiness to compete and thrive in global markets.
