A Month After Uber’s Exit, Moove Quits Nigeria, Gives Customers ₦35bn Worth Of Vehicles

Moove, the mobility fintech company founded in Lagos, is exiting the Nigerian market after six years, barely a month after San Francisco-based company Uber Technologies announced its withdrawal from Nigeria, ending 12 years of operations in the country.

The company announced the move under its “Thank You Nigeria” initiative, saying eligible customers using Moove-financed vehicles will receive full ownership of vehicles valued at approximately ₦35 billion at no additional cost, with the transfers taking effect from October 1, 2026.

Founded in 2020 by Ladi Delano and Jide Odunsi, Moove said more than 9,000 customers in Nigeria have used its products, generating approximately ₦57 billion in revenue through its vehicle-financing model, which enabled drivers to access cars through rental and Drive-to-Own arrangements.

Reflecting on the company’s departure, Moove Co-Founder, Co-CEO and Advisory Board Chairman Ladi Delano said:

“Nigeria is where Moove began, and everything we have built since carries something of Lagos with it. Jide and I started the company because talented, hardworking mobility entrepreneurs wanted the opportunity to earn, but could not get access to the vehicles and finance they needed.”

In addition to transferring Moove-financed vehicles valued at approximately ₦35 billion to eligible customers, Moove also announced plans to reward all staff members with a free car as a sign of appreciation.

Despite leaving the market where it was founded, Moove says its international operations span 29 cities across 13 countries, with approximately 42,000 vehicles. Its global expansion strategy increasingly signals a shift towards opportunities beyond its original Nigerian market.

Moove’s exit from Nigeria follows a significant international fundraising milestone, with the company recently raising $250 million at a $2.1 billion valuation in a funding round aimed at scaling the global infrastructure required for autonomous mobility.

Led by Mubadala Investment Company (“Mubadala”) and co-led by Woven Capital (Toyota) and Ion Pacific, the Series C funding round announced last month is intended to accelerate Moove’s global infrastructure platform for autonomous mobility as the market shifts from breakthrough technology to scaled deployment.

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