Funding round could push Moove’s market value to $750mn
In brief:
- The US ride-hailing firm will join a group of investors in the cash raise, which will push Moove’s enterprise value to about $750 million from about $650 million.
- The start-up uses a credit-scoring system to provide financing to drivers to buy new vehicles for ride hailing, logistics and deliveries using a percentage of their weekly income. It already has a close partnership with Uber.
- Now headquartered in Amsterdam, the firm has expanded across Africa, the UK, the UAE and India.
What does this mean?
The funding round has not yet concluded and the final figure could still change, ranging between about $75 million and $100 million, they said.
