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Moove Raises $23m to Expand Vehicle Ownership in Africa
By Adedapo Adesanya
Moove, an African mobility fintech, has raised $23 million in Series A funding to build a full-service service that democratizes vehicle ownership in Africa.
The round was led by Speedinvest and Left Lane Capital, with participation from DCM, Clocktower Technology Ventures, thelatest.ventures, LocalGlobe, Tekton, FJ Labs, Palm Drive Capital, Roka Works, KAAF Investments, Spartech Ventures, Class 5 Global, and Victoria van Lennep, co-founder of Lendable.
Africa specialist, Verod Kepple Africa Ventures, and one of Moove’s existing lenders, Emso Asset Management, also joined the round.
This brings Moove’s total funding to $68.2 million, including $28.2 million in equity and $40.0 million in debt.
This makes Moove the first investment in Africa for many of its United States’ VC backers, underscoring the opportunity for a platform to address the continent’s vehicle financing gap which has more than a billion people who have limited or no access to vehicle financing – and the lowest per capita vehicle ownership in the world.
The new Series A funding will also allow Moove to grow and expand into new markets as well as develop and launch new products and services.
The equity raise follows a year of momentum and success for Moove with the launch of three cities and 60 per cent month-on-month growth so far.
The market opportunity in Africa is vast with a population of 1.3 billion people, with 43 per cent in urban areas and growing, and in 2019 had fewer than 900,000 total new vehicle sales compared to 17 million in the US.
Moove embeds its alternative credit-scoring technology onto ride-hailing and e-logistics platforms, which allows access to proprietary performance and revenue analytics of mobility entrepreneurs to underwrite loans.
The company’s model is to provide loans to its customers by selling them new vehicles and financing up to 95 per cent of the purchase within five days of sign up.
Moove customers can choose to pay back their loans over 24, 36, or 48 months, using a percentage of their weekly revenue.
All Moove customers sign up to the Moove app to manage all transactions and access other financial products on the platform.
Speaking on the goal with the new round, the co-founder of Moove, Mr Ladi Delano says, “In a continent full of opportunity, mobility is key to moving economies forward and this funding contributes to our ability to provide revenue-based financing, as Moove empowers Africans to safely become mobility entrepreneurs.
“We help people buy new cars who otherwise couldn’t afford them. And then, using the vehicle as a mobility entrepreneur, they’re able to earn money, which allows them to pay off the vehicle over time.”
Speaking on the development, Mr Stefan Klestil, General Partner at Speedinvest, said, “With Ladi and Jide at the helm of a world-class team, and their unique approach to vehicle financing, Moove has quickly established itself as one of the most exciting tech companies in Africa.
“The company’s expansion to three cities in under 12 months demonstrates the huge demand for vehicle financing in Africa, where just five per cent of new cars are purchased with financing, compared to 92 per cent in Europe.”
On his part, Mr Dan Ahrens, Managing Partner at Left Lane Capital noted, “Moove’s technology is fundamentally changing access to mobility and empowering thousands to earn a new source of income.
“As we look ahead, the potential for that technology and the Moove team to expand even further is very exciting. They have the opportunity to become a full-service mobility fintech and expand their offerings to insurance and other financial services.”
Moove was initially bootstrapped by its co-founders, Messrs Ladi Delano and Jide Odunsi with seed-stage funding from Future Africa, an Africa focused fund led by Mr Iyin Aboyeji, who was a founder at Andela and Flutterwave.
Moove is a mission-led company that’s committed to giving 100 per cent of mobility entrepreneurs access to affordable credit and ensuring that 50 per cent of its customers are women.
It also aims to ensure that at least 60 per cent of the vehicles it finances are electric or hybrid vehicles as part of its commitment to improving road safety and vehicle emissions on Africa’s roads.
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inDrive Lagos, Abuja Top Drivers Get N30m Fuel, Shopping Vouchers
By Modupe Gbadeyanka
Top drivers of a global mobility and urban services platform, inDrive, in Lagos and Abuja were recently rewarded with fuel and shopping vouchers worth N30 million through its Driver Rewards Campaign.
The promo was created by the company in response to rising fuel costs and increasing operational expenses. It is providing meaningful support to its driver community through this initiative, while celebrating their commitment and hard work for keeping Nigeria’s major cities moving every day.
The campaign, which started in March and will end in June 2026, involves distributing vouchers worth N30,000 each to 1,000 eligible drivers through a series of live raffle draws on inDrive’s digital platforms. This effort is designed to acknowledge and reward the most active drivers on the platform for their unwavering dedication and commitment to providing high-quality service to passengers.
The Country Lead for inDrive Nigeria, Mr Timothy Oladimeji, noted that the initiative underscores the organisation’s ongoing commitment to driver welfare and its mission to foster equitable opportunities within the mobility ecosystem.
Mr Oladimeji explained that the Driver Rewards Campaign is designed to ease some financial burdens while encouraging and celebrating drivers’ resilience, professionalism, and dedication to service.
“At inDrive, we understand the realities drivers face every day, especially as rising fuel prices continue to put pressure on their earnings. Our drivers are the backbone of our platform, and this campaign is our way of recognising their dedication and supporting them meaningfully.
“Through these rewards, we want to show that inDrive stands with drivers, values their contribution and remains committed to creating a fairer and more rewarding mobility ecosystem,” he said.
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inDrive Unveils International Social Initiative Against Bullying
By Modupe Gbadeyanka
A social initiative to encourage parents to pay closer attention to their children’s emotional well-being and create space for open conversations has been launched by a global mobility and delivery platform, inDrive.
It is based on inDrive’s Cancel the School Trip campaign, first launched in Kazakhstan in April 2026.
Encouraged by the significant public interest in the project, inDrive intends to roll out the initiative across other markets within its global presence, including Nigeria.
As part of the initiative, users taking morning rides to school received a push notification asking whether they wanted to cancel the trip after the ride had already started. The message appeared to be an app error, but in reality, it served as a communication trigger — a way to pull parents out of their daily routine and redirect their attention to their child’s emotional state.
School bullying remains one of the most widespread — and at the same time one of the least visible — issues affecting teenagers worldwide. According to UNICEF, millions of children regularly experience bullying, yet many never speak about it to adults.
“We need to talk to children more often. Not just ask How are you? But genuinely notice their emotional state, mood, and changes in behaviour. Sometimes, even a short conversation can help identify a problem a child may be afraid to talk about,” the Country Lead for inDrive Nigeria, Mr Timothy Oladimeji, stated.
The symbol of the campaign became the back seat of a car — a space where parent and child are alone together and can talk without distractions. The organisers believe there is not always a need to create entirely new communication rituals; sometimes, it is enough to pay more attention to moments that already exist in everyday life. Even a few minutes of conversation on the way to school can help a child feel heard and safe enough to share their concerns.
In addition to digital tools, installations shaped like car seats were placed across Almaty in shopping malls and at busy city intersections. As part of the initiative, an online platform with practical recommendations for parents was also developed together with child psychologists.
The platform includes materials on recognising signs of bullying, starting difficult conversations with children, and supporting them in challenging situations.
The campaign was followed by a roundtable discussion in Kazakhstan that brought together psychologists, parents, influencers, and representatives of the creative industry. Participants discussed why bullying often remains hidden, how teenage aggression is evolving and which communication approaches help build trust between adults and children.
A separate part of the discussion focused on how to talk to children about difficult emotions and experiences. According to psychologist Kseniya Lych, standard questions are often ineffective because children answer them automatically. Instead, prompts involving imagination and open-ended thinking tend to reduce tension and encourage dialogue.
The initiative received strong public attention and positive feedback from parents, psychologists and the professional community. As a result, inDrive is already planning to expand the campaign to other markets where it operates, adapting it to each country’s local context.
“We see that bullying is an equally painful issue across different countries and cultures. That is why we want to develop this initiative internationally and launch similar projects in other inDrive markets. For us, it is important not only to raise awareness about the problem, but also to help parents pay closer attention to their children’s emotional well-being and start conversations in time,” says Yevgeniy Gavrilchenko, co-author of the idea and Creative Lead at inLab by inDrive.
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FRSC Condemns Attack on Traffic Enforcement Team by DSS Official
By Modupe Gbadeyanka
The Corps Marshal of the Federal Road Safety Corps (FRSC), Mr Shehu Mohammed, has kicked against an alleged violent attack on the traffic enforcement team of the organisation by a motorist, who was later identified as a security operative.
In a statement signed by the Deputy Corps Commander for Public Education, Mr Osondu Ohaeri, in Abuja on Friday, it was claimed that the motorist was suspected to be an official of the Department of State Services (DSS).
Narrating the incident in the statement, the FRSC said on Thursday, May 21, 2026, its officials flagged down a Toyota Carina driver for a suspected traffic violation at about 3:20 pm, but he refused to stop and proceeded dangerously until he was eventually held up by traffic close to the Command in Idu, Abuja.
“Upon approach by the patrol team for routine checks of vehicle and driver documents, the offender became hostile, verbally aggressive, and resisted lawful enforcement procedures.
“Despite several tactical and professional attempts by FRSC personnel to de-escalate the situation, the offender escalated the confrontation by physically advancing toward officers and later drawing a pistol, which he fired twice within the vicinity of the Command.
“In the face of imminent danger to lives and property, FRSC personnel acted with remarkable restraint, professionalism, and tactical discipline to swiftly disarm the assailant without loss of life. One Marshal sustained minor bruises during the process,” the statement narrated.
It was disclosed that the suspect was immediately handed over to the Nigeria Police Force at Life Camp Police Station alongside the firearm, ammunition components, and the vehicle involved, with the matter transferred to the appropriate State Command for further investigation.
In the statement, Mr Mohammed praised his men for the courage, professionalism, and maturity displayed by them, saying he’s impressed with how they resisted provocation and ensured that the situation did not degenerate into chaos, despite growing public outrage at the scene.
He further stated unequivocally that no individual, regardless of status, rank, or agency affiliation, is above the law, emphasising that security personnel are expected to lead by example through compliance with established traffic regulations and respect for constituted authority.
He called on all security agencies to continue strengthening inter-agency cooperation, mutual respect, and operational discipline in the collective interest of national security and public safety.
“Firearms and official status must never be used as instruments of intimidation against law enforcement officers carrying out legitimate duties,” he stressed.
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