Moove Nears $1.2B Debt Raise for US Autonomous Fleet Expansion

African ride-hailing startup Moove is on the verge of raising $1.2 billion in an oversubscribed debt round to fund the rollout of an autonomous vehicle fleet in the U.S. in partnership with Alphabet's Waymo. This capital infusion marks a significant pivot from Moove's original vehicle financing model toward owning and operating self-driving vehicles, which is expected to enhance its growth and monetization potential. Moove, founded in 2020 by Nigerian entrepreneurs Ladi Delano and Jide Odunsi, has rapidly expanded across more than a dozen countries and seen revenues rise to nearly $400 million in 2025, up from $275 million in 2024. The partnership with Waymo involves Moove managing fleet operations, facilities, and charging infrastructure in U.S. cities like Phoenix and Miami, with Waymo supplying the autonomous driving technology. The strong investor interest from private credit firms and traditional lenders underscores confidence in Moove's strategy and its position in the emerging autonomous mobility sector. This move also highlights Moove’s growing influence as a major player from Africa entering the global autonomous vehicle market.