Moove Charts New Roads In Mexico

Moove, the African mobility fintech company, has officially expanded into Mexico City, marking its entry into Latin America.

The expansion comes right after the company launched in the U.S., showcasing its rapid global growth as it continues to help drivers access vehicle financing. Moove is on a mission to empower gig workers by providing them with the tools they need for financial independence.

In a LinkedIn post, Moove shared the news, writing, “Getting Mexico on the Moove! We’re excited 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.”

Moove’s story began in 2020, when co-founders Ladi Delano and Jide Odunsi launched the company to provide a solution for drivers in emerging markets. Rather than relying on traditional banks, which often have strict requirements, Moove offers vehicle financing through a model where payments are made from drivers’ earnings. This makes it easier for ride-hailing drivers to own vehicles and take control of their financial future.

Today, Moove operates in countries like Nigeria, Ghana, South Africa, India, the UK, and the UAE. The decision to enter Mexico is part of the company’s broader plan to expand into regions where access to vehicle financing is limited. Mexico City, with its large population and demand for ride-hailing services, was a natural next step. By offering drivers an alternative path to vehicle ownership, Moove aims to address the financial barriers that many gig workers face.

Moove’s post continues to say, “With our Mexico team now fully onboard and operations underway, we’re driving towards a future of mobility that empowers drivers to achieve their goals and gain financial independence. This is just the beginning, and we’re proud to play a role in creating a positive impact across the region.”

Moove’s recent expansion into the U.S. earlier this year was another major milestone, underscoring its ambitions to scale globally. In both the U.S. and Mexico, the company is offering drivers access to vehicles and helping them progress towards owning their cars, one trip at a time.

This growth is supported by Moove’s Series B funding round, which raised $100 million. While the company hasn’t officially confirmed its lead investor, it’s well-known that Uber led the round, marking the ride-hailing giant’s first direct investment in an African startup. Uber and Moove have been working hand in hand, with Uber providing the platform and Moove supplying a growing fleet of drivers.

Moving into Mexico City is a big step forward, but it’s just the beginning. The company has plans to continue expanding across Latin America, following its established model of helping drivers in emerging markets access vehicle financing and work toward financial freedom.

For drivers in Mexico City, this means they now have the chance to join Moove’s platform, get verified, and start driving for companies like Uber. In a region where access to vehicle financing can be tough, Moove’s entry into Mexico could make a real difference in the lives of many drivers.