African Startup Moove Helps 30M Trips Happen in India

A mobility startup born in Lagos is proving that African innovation can solve global problems, one car loan at a time.

Moove launched in Nigeria in 2020 when founders Jide Odunsi and Ladi Delano spotted a gap. Uber had tons of riders but too few drivers, and banks wouldn't finance gig workers who lacked credit histories. The solution? Use trip data and driver earnings instead of credit scores to approve vehicle loans.

The model took off fast, growing 50% month over month. Drivers could finally own cars through affordable weekly payments tied to their income. In a continent where fewer than 5% of vehicles are financed (compared to 92% in Europe), Moove opened doors that traditional banking had locked.

By 2022, Moove was ready to test its model beyond Africa. The company partnered with Uber to launch in Mumbai, Hyderabad, and Bengaluru with an ambitious goal: put 25,000 electric vehicles on Indian roads by 2027.

The numbers tell the success story. By early 2024, Moove-financed vehicles had completed over 30 million trips across India. That same year, the company secured $10 million in new funding to expand into Delhi, Pune, and Kolkata.

What makes Moove special isn't just the financing model. The company is betting big on clean transportation, aiming for 60% of its global fleet to be electric or hybrid vehicles. In India, where the government has set aggressive 2030 renewable energy targets, Moove's approach aligns perfectly with national priorities.

The company has also shown it cares about driver welfare. When Nigeria faced 30% inflation in 2023, Moove launched its "Moove Cares" program, cutting driver payments by 33% and extending repayment terms. It's the kind of flexibility traditional lenders rarely offer.

The Ripple Effect

Moove's success is creating waves far beyond individual drivers. Every vehicle financed represents a family gaining stable income and a path to asset ownership. In markets where car ownership seemed impossible, drivers are now building equity with every trip they complete.

The model is also advancing clean transportation in cities struggling with pollution. Each electric vehicle Moove puts on the road reduces emissions while proving that sustainability and affordability can work together.

For other African startups, Moove demonstrates that solutions built for African markets can scale globally. The company identified a problem that exists worldwide—credit access for informal workers—and created an answer that works across continents.

India's gig economy now has 30 million more trips worth of proof that there's a better way to finance mobility.