Nigerian-founded mobility company Moove has entered Africa’s growing club of billion-dollar startups after securing $250 million in Series C funding, pushing its valuation to $2.1 billion.
The latest investment marks a major jump from the company’s previously reported $750 million valuation in 2024 and positions Moove among Africa’s most valuable privately held technology businesses.
Founded in Nigeria in 2020, Moove provides vehicle financing and financial services to people working in the mobility economy. Its model is designed to help drivers and other mobility entrepreneurs gain access to vehicles and financial services that can otherwise be difficult to obtain.
The new funding also gives the company additional capital to expand its operations and strengthen its position in international mobility markets.
Moove’s latest milestone is significant beyond the company itself. It adds another African-founded business to the continent’s small but expanding group of startups valued at more than $1 billion.
The company is also part of the Endeavor entrepreneurial network, a connection shared by several of Africa’s newest unicorns. Other recent billion-dollar companies linked to the network include South Africa’s Tyme, Nigeria’s Moniepoint and Egypt’s MNT-Halan.
The pattern highlights the growing number of African startups developing businesses around large local challenges while building models that can scale beyond their home markets.
Endeavor operates as a global network supporting entrepreneurs through mentorship, investment and access to business networks. The organisation says its community includes more than 2,900 entrepreneurs operating across more than 45 markets.
According to Endeavor, its entrepreneurs had collectively generated $88.5 billion in revenue and created more than four million jobs globally as of 2024.
Its investment arm, Endeavor Catalyst, operates as a co-investment fund backing entrepreneurs within the organisation’s network. The fund has become one of the notable early-stage investors supporting startups that eventually reach billion-dollar valuations outside the United States and China.
Moove’s rise also adds to the growing importance of Nigeria and other African markets in the global startup ecosystem.
Endeavor South Africa, which opened in 2004, has also reported strong growth among the entrepreneurs in its portfolio. Between 2021 and 2025, its 27 entrepreneurs recorded average annual revenue growth of 29%, generating an additional R12 billion in revenue and creating more than 5,100 jobs.
The portfolio raised a combined R10 billion in capital during 2024 alone.
For Endeavor South Africa managing director Alison Collier, Moove’s achievement demonstrates the potential of African founders who build businesses around large-scale problems while designing their companies for international growth.
The $2.1 billion valuation, she noted, represents more than a headline figure. It also points to the increasing value being created by African companies and could help strengthen investor confidence in the continent’s private markets.
As more African startups reach significant valuations, successful exits could potentially return capital to investors and channel more funding into the next generation of founders.
Moove’s latest milestone therefore represents more than another unicorn announcement. It is another indication that African entrepreneurs are increasingly building companies capable of attracting major international capital and competing at global scale.
