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Auto Financing Startup Moove Bags $10 Mn To Expand India Ops

Inc42 · 1y ago

Auto Financing Startup Moove Bags $10 Mn To Expand India Ops

African mobility fintech startup, Moove, has secured $10 million in debt funding from Stride Ventures to expand its presence in the Indian market. Moove uses alternative credit sourcing technology to provide vehicle financing for mobility entrepreneurs across ride-hailing, logistics, mass transit, and instant delivery platforms. The funds will be used to strengthen the company's presence in India and expand to new cities, including Delhi, Pune, and Kolkata. Moove's vehicles, many of which are registered with Uber, have completed over 30 million trips on the ride-hailing platform.

Related News

Uber leads $100M investment in African mobility fintech Moove as valuation hits $750M

TechCrunch · 1y ago

Uber leads $100M investment in African mobility fintech Moove as valuation hits $750M

African mobility fintech company Moove has raised $100 million in a funding round led by Uber, the ride-hailing giant's first investment in an African startup. Moove offers vehicle financing to drivers working for ride-hailing and delivery apps. The funding will be used to expand Moove's revenue-based vehicle financing platform to 16 markets by 2025. The company plans to focus on expanding its fleet of electric vehicles and sustainable mobility solutions. Moove currently operates in Nigeria, South Africa, Ghana, the UK, India, and the UAE.

Nigerian-born mobility fintech startup Moove gets debt funding for India expansion

VCCircle

VCCircle · 1y ago

Nigerian-born mobility fintech startup Moove gets debt funding for India expansion

Nigerian-born mobility fintech startup Moove has raised $10 million in debt funding from venture debt firm Stride Ventures to fuel its expansion in India. Moove plans to use the capital to strengthen its presence in the country by expanding into cities like Delhi, Pune, and Kolkata, as well as increase its fleet to over 5,000 vehicles. The company, which already operates in Bengaluru, Mumbai, and Hyderabad, provides revenue-based vehicle financing to mobility entrepreneurs using alternative credit-scoring technology in ride-hailing platforms. Moove has raised over $335 million in funding since its inception.

Vehicle Financing Startup OTO Bags $10 Mn To Scale Up EV Two Wheeler Playbook

Inc42 · 1y ago

Vehicle Financing Startup OTO Bags $10 Mn To Scale Up EV Two Wheeler Playbook

Vehicle financing startup OTO has raised $10 million in a funding round led by GMO Venture Partners, with participation from Turbostart and cricketer KL Rahul. The company plans to expand to over 30 cities in India and focus on financing two-wheeler electric vehicle purchases. OTO has partnerships with leading two-wheeler brands and offers a leasing-like financing model for customers. The funding will support its growth in the electric vehicle market. The two-wheeler EV market is predicted to reach INR 35,000-40,000 crore by FY26, with financing expected to reach INR 13,000-15,000 crore.

Mobility fintech startup Moove raises $10 million in debt from Stride Ventures

IndianStartupNews

IndianStartupNews · 1y ago

Mobility fintech startup Moove raises $10 million in debt from Stride Ventures

Indian mobility fintech firm Moove has secured $10 million in debt funding from Stride Ventures. The funding will enable Moove to expand its operations across new cities in India, such as Delhi, Pune, and Kolkata, and increase its fleet size to over 5,000 vehicles. Moove aims to transform global mobility by offering financial services to traditionally excluded individuals through alternative credit-scoring technology. The startup has facilitated over 30 million trips, with over 4.2 million of those in India. This marks Moove's first external debt funding in India.

Clientell Bags $2.5 Mn To Help Companies Boost GTM Execution, Manage Revenue Ops

Inc42 · 1y ago

Clientell Bags $2.5 Mn To Help Companies Boost GTM Execution, Manage Revenue Ops

Clientell, an AI-powered SaaS startup, has raised $2.5 million in a seed funding round led by Blume Ventures. The startup, founded in 2021, aims to improve revenue generation efficiency for businesses by introducing AI copilots to optimize go-to-market execution and pipeline governance. Clientell has already assisted growth-stage SaaS companies and large pharmaceutical companies in making data-backed decisions and streamlining their business strategies. With the fresh capital, the company plans to strengthen its product and expand its team. Blume Ventures aims to expand its AI portfolio through this investment.

TapFin Bags 4 Mn From Elevar Capital

Inc42 · 1y ago

TapFin Bags 4 Mn From Elevar Capital

Indian green financing startup TapFin has secured $4m in a seed funding round from Elevar Equity. TapFin offers financing, value-added services and income-generation opportunities for key players in the clean mobility sector. The funds will be used to support the company's growth plans, expand its market reach and enhance its technology and data capabilities. Founded last year, TapFin's platform facilitates connections between market participants and aims to empower small and medium-sized enterprises to embrace sustainability and enhance their economic potential.

LogicLadder Bags $2.5 Mn To Help Enterprises Decarbonise Ops

Inc42 · 1y ago

LogicLadder Bags $2.5 Mn To Help Enterprises Decarbonise Ops

CleanTech SaaS platform, LogicLadder, has raised $2.5 million in funding from Big Bang Capital and Rainmatter. The funds will be used to expand the company's presence in South Asia and North America and to enhance its technology and product offerings. LogicLadder's flagship product, Sustainability Cloud, helps brands improve operational efficiency while minimizing environmental impact. Founded in 2011, the company is focused on providing solutions for sustainable business practices.

Moove takes in $76M equity, debt from Mubadala and BlackRock at a $550M valuation | TechCrunch

TechCrunch · 1y ago

Moove takes in $76M equity, debt from Mubadala and BlackRock at a $550M valuation | TechCrunch

Moove, an African mobility fintech that provides vehicle financing to drivers of ride-hailing platforms like Uber and other gig networks, has raised $78 Mobility fintech Moove raises a new round from Mubadala and BlackRock.

Mobility startup Yulu bags $19 mn from existing investors

VCCircle

VCCircle · 1y ago

Mobility startup Yulu bags $19 mn from existing investors

Yulu, a shared electric two-wheeler mobility company, has raised $19.25 million in equity funding from existing investors Magna and Bajaj Auto. Bajaj Auto invested $5.8 million for a 1% stake in the company, bringing its total stake to 18.8%. The additional capital will be used to support Yulu's growth and expand its operations and technology innovation. Yulu currently operates in several Indian cities and offers electric bike rental services and EV charging and battery swapping networks. The company is also planning to raise its Series C funding round in the near future.

ProcMart Bags $30 Mn To Boost Supply Chain Integration For Businesses

Inc42 · 1y ago

ProcMart Bags $30 Mn To Boost Supply Chain Integration For Businesses

Noida-based B2B procurement marketplace ProcMart has raised $30 million in a Series B funding round led by Fundamentum Partnership and Edelweiss Discovery Fund. The company plans to use the capital to explore strategic acquisitions, expand its distribution network, strengthen international operations, and enter new industries. ProcMart connects stakeholders in the supply chain, offering comprehensive solutions for indirect sourcing requirements. The startup currently operates in 20 cities in India and in Malaysia and Indonesia. ProcMart had previously raised $10 million in a Series A funding round.

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