The Moove pitch that became a debt trap for Lagos drivers
Christian Ovie discovers his 'new' vehicle from Moove is actually a recycled asset with a hidden history. Moove's financing model has led to aggressive hikes in daily remittance fees, nearly doubling the payments for drivers.
Drivers give Moove a three-day ultimatum to reverse 100% remittance hike
Drivers issued a three-day ultimatum to Uber and Moove to reverse a 100% hike in DTO remittance. Protests were held by drivers who shut down operations over the increased daily repayments from ₦9,400 to ₦18,700.
Moove Sets Sights on Becoming Africa’s Next Unicorn with $300 Million Funding Round, Eyeing $2 Billion Valuation
Moove is seeking to raise over $300 million at a valuation exceeding $2 billion. The startup plans to expand its autonomous vehicle business with the new funding.
Uber-Backed Moove Eyes $2B Valuation in Fresh Funding Round
Moove is seeking to raise over $300 million at a valuation exceeding $2 billion. The startup's revenues grew from $50 million in 2024 to nearly $400 million this year.
Why every African founder and investor should care about debt
Moove raised $210 million in debt, highlighting the accountability that comes with such financing. Debt can push founders to develop healthy habits and frameworks for lasting impact.
