Moove, the global mobility fintech startup run by British-Nigerian entrepreneur Ladi Delano, has formally commenced operations in Mexico, marking the latest step in a global development strategy.
The firm, which plans to become profitable next year, is dedicated to empowering gig workers and fostering sustainable mobility in North America. Moove aims to meet the region’s growing demand for ride-hailing services by offering drivers with car access and financial independence.
This growth is consistent with Moove’s overall strategy of targeting high-potential regions and using its repeatable business model. By collaborating with global platforms such as Uber and migrating to electric cars (EVs), the company is appealing to investors looking for environmentally and socially responsible businesses.
The move comes just one month after its U.S. debut and after a successful $100-million Series-B investment round lead by Uber, allowing for continued growth in important regions such as India, UAE, and UK. This is Moove’s seventh market debut, after Nigeria, Ghana, South Africa, the United Kingdom, the United Arab Emirates, India, and the United States.”We’re thrilled to announce our official entry into Mexico,” said Ladi Delano, Moove’s CEO. “This expansion is a testament to our commitment to empowering drivers and promoting sustainable mobility on a global scale.”
Moove’s entry into Mexico is a big step forward for the African startup ecosystem, which has faced hurdles in recent months due to macroeconomic issues and a slowdown in fundraising.
Moove, founded in 2020 by Ladi Delano and Jide Odunsi, has quickly emerged as a prominent player in the mobility fintech sector, addressing the acute scarcity of vehicle financing for more than two million African mobility entrepreneurs.
In 2022, Moove partnered with Uber to launch a ride-hailing fleet in India, marking its first global growth beyond Africa. The enterprise began with the deployment of 5,000 CNG and electric vehicles in its first year, with plans to grow to 30,000 vehicles within five years.
In 2023, Moove received $8 million in finance from Absa Corporate and Investment Banking (CIB) to expand in Ghana.Moove’s commitment to green mobility and creative business model position it well for further worldwide expansion and contribution to a more sustainable transportation future.
