Moove, Nigerian mobility fintech startup, has officially launched its vehicle financing operations in Mexico, just a month after entering the U.S. market.
This expansion marks a major step in the company’s strategy to support gig workers and advance sustainable mobility solutions across North America.
Announcing this move, the company wrote,
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“We’re excited to share that Moove has officially hit the streets of Mexico City! The first vehicles have been delivered to our drivers, marking a significant milestone in our LatAm expansion. With our Mexico team now fully onboard and operations underway, we’re driving towards a future of mobility that empowers drivers to achieve their goals and gain financial independence. This is just the beginning, and we’re proud to play a role in creating a positive impact across the region!”
Drivers in Mexico can now apply to join Moove, get verified, and start driving with one of its partner platforms. This initiative enables them to work toward vehicle ownership and financial independence while contributing to Moove’s mission of creating positive social and environmental impact across the region.
Moove’s expansion into Mexico is part of its broader goal to meet the rising demand for ride-hailing services in Latin America. The company’s business model allows gig workers to finance vehicles, with repayments automatically deducted from their weekly earnings. Moove has also emphasized its commitment to sustainability, with plans to shift toward electric vehicles (EVs) in many markets.
By partnering with global platforms like Uber, the company appeals to investors focused on environmental and social responsibility. This move into Mexico, Moove’s eighth market, follows successful launches in Nigeria, Ghana, South Africa, the UK, UAE, India, and the U.S.
In March 2024, the company raised $100 million in a series B funding round led by Uber, valuing the company at $750 million. Following the funds raised, Moove disclosed plans to enter additional markets by 2025, as part of its mission to empower ride-hailing drivers worldwide.
Founded in 2020 by Ladi Delano and Jose Odunsi, Moove provides customers with access to vehicle financing, as well as a range of financial services that were previously inaccessible to them and their families, helping them to be more productive and successful.
The mobility fintech startup is committed to building the largest and most productive hybrid and EV fleet in the world, empowering customers with greener options and positively contributing to a more sustainable world.
Since its launch, Moove has served over 20,000 customers and has positively impacted the lives of over 80,000 people globally. With its strong partnership, innovative business model, and dedication to green mobility, Moove is dedicated to democratizing access to financial services for mobility entrepreneurs.