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Uber leads $100M investment in African mobility fintech Moove as valuation hits $750M
Uber and sovereign wealth fund Mubadala have invested $100 million in Moove, an African startup that offers vehicle financing to drivers.
TechCrunch learned from sources familiar with the deal that Uber led the Series B round, which includes sovereign wealth fund Mubadala and several other investors, pushing Moove’s post-money valuation to $750 million. He attributed this stance to the mission behind founding the company with co-founder Jide Odunsi: to offer access to vehicle financing and generate employment opportunities and income for drivers in the country and across Africa. TechCrunch has gathered from multiple sources that Moove recently inked a deal with Bolt, a major competitor to Uber in emerging markets, to expand options in ride-hailing, its most important category.
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