New and returning investors back Moove’s latest oversubscribed round

Image Credit: Moove

Following the close of an oversubscribed $23 million Series A round last August, Moove has raised more capital in an oversubscribed Series A2 from a group of new and returning investors. The fintech startup, which provides mobility entrepreneurs in Africa with revenue-based financing to pay for their vehicles, has raised another $105 million from a group of 7 investors. The latest round lifts the amount of capital raised by the firm to $174.5 million since it was founded by Nigerians Ladi Delano and Jide Odunsi two years ago.

The A2 round was led by Speedinvest, Left Lane Capital, and, all of which have backed the company previously. The new investors in the round are AfricInvest, (via its evergreen investment vehicle FIVE), MUFG Innovation Partners, Latitude, and Kreos Capital. How much each is investing and how much of the $105 million is made up of equity versus debt has not been disclosed.

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