Nigerian Mobility Fintech Startup Moove Enters Mexico, Accelerating Its Global Expansion

Moove, the Nigerian-born mobility fintech startup, has officially launched its vehicle financing operations in Mexico, just a month after entering the U.S. market. This marks a major step in the company’s strategy to support gig workers and advance sustainable mobility solutions across North America.

In a statement on LinkedIn, Moove expressed its excitement about the expansion,

“Getting Mexico on the Moove! We’re thrilled to share that Moove has officially hit the streets of Mexico City! The first vehicles have been delivered to our drivers, marking a significant milestone in our LatAm expansion.” The company has also built a dedicated local team to support operations and empower drivers in the region, helping them achieve financial independence through access to vehicles.

Moove’s expansion into Mexico is part of its broader goal to meet the rising demand for ride-hailing services in Latin America. The company’s business model allows gig workers to finance vehicles, with repayments automatically deducted from their weekly earnings. Moove has also emphasized its commitment to sustainability, with plans to shift toward electric vehicles (EVs) in many markets. By partnering with global platforms like Uber, the company appeals to investors focused on environmental and social responsibility.

This move into Mexico, Moove’s eighth market, follows successful launches in Nigeria, Ghana, South Africa, the UK, UAE, India, and the U.S. The company plans to enter additional markets by 2025, as part of its mission to empower ride-hailing drivers worldwide.

Founded in 2020 by Ladi Delano and Jide Odunsi, Moove has experienced rapid growth. In 2023, the company raised $76 million to expand its EV fleet, particularly in India, where it plans to deploy over 20,000 EVs by 2025. Moove’s entire fleet in the UAE has already transitioned to electric vehicles, highlighting its commitment to clean energy.