Moove, which offers vehicle financing to gig drivers across six continents, has acquired Kovi, a Brazilian urban mobility provider, in an all-share transaction.

TechCrunch

United States

Uber-backed mobility fintech Moove acquires Brazil’s Kovi, takes ARR to $275M

The transaction, whose amount was not disclosed, will expand the African group's fleet to 36,000 vehicles and increase its annual recurring revenue to US$ 275 million, said Ladi Delano, co-founder of Moove

A transação, cujo valor não foi divulgado, ampliará a frota do grupo africano para 36.000 veículos e aumentará sua receita recorrente anual para US$ 275 milhões, disse Ladi Delano, cofundador da Moove

Moove, startup apoiada pela Uber, compra brasileira Kovi

Globo

Roberto Irineu Marinho

Brazil

Moove, startup backed by Uber, buys Brazilian Kovi

Moove, a Nigerian startup that provides financial access to vehicle ownership, has acquired Brazil’s Kovi, a car rental company, as part of its strategy to expand beyond Africa.

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Punch Newspapers

Moove acquires Brazilian car rental firm in share deal

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Verizon Communications

Moove, a global leader in mobility solutions, has announced the acquisition of Kovi, an urban mobility provider headquartered in São Paulo, Brazil.   The post Moove acquires Kovi to expand mobility footprint in Latin America  appeared first on Nairametrics.

Nairametrics

Moove acquires Kovi to expand mobility footprint in Latin America

Rideshare fleet operator Moove plans to expand its footprint in Latin America by acquiring Brazil-based urban mobility provider Kovi. The acquisition, which is subject to customary closing conditions, will add Kovi’s fleets in Brazil and Mexico and its proprietary IoT software and driver behavior algorithm to Moove’s fleet and technologies that power mobility platforms, the companies said in a Wednesday (Jan. 29) press release. It will also expa…

PYMNTS.com

Moove Acquires Kovi to Expand Rideshare Operations in Latin America

ABHI and TPL have officially completed the acquisition of FINCA Microfinance Bank Limited. The final signing ceremony took place in the presence of prominent leaders from both organisations and key stakeholders, including Omair Ansari, CEO of ABHI, Ali Jameel, CEO of TPL Corp Limited, and Jeffery Smith, Vice President – Chief Administrative Officer of FINCA. The event marked the formal conclusion of this strategic partnership, which aims to expa…

Daily Pakistan Observer -

ABHI and TPL Corps acquire FINCA Microfinance Bank - Pakistan Observer

By Adedapo Adesanya Top mobility fintech backed by Uber, Moove, has acquired Kovi, a Brazilian urban mobility provider, as it boost its footprints outside Africa. Moove, which offers vehicle financing to ride-hailing and delivery app drivers across six continents, will now wholly own Kovi. According to the co-founder and chief executive of the firm, Mr […]

Business Post Nigeria

Nigeria's Moove Buys Brazil's Kovi for Further Expansion Outside

Moove, marketed as an “African-born, global mobility fintech,” has announced an acquisition. The company, founded in Nigeria by Ladi Delano and Jide Odunsi, enables delivery drivers to finance vehicles and start driving with partners like Uber in three simple steps: apply, get verified, and drive. TechCrunch notes that Moove launched with 76 cars in Lagos in 2020 and has expanded to 36,000 cars. Per the company’s website, over 52,787,109 trips h…

AfroTech

Uber-Backed Mobility Fintech Startup Moove Acquires Kovi To Create 'The Largest And Most Productive Hybrid And EV Fleet In The World' And EV Fleet In The World'

Moove, the Uber-backed Nigerian mobility fintech startup, has acquired Kovi, a car rental startup in Brazil, Latin America’s largest ride-hailing market. The acquisition continues the global expansion of the startup which currently operates in 19 cities across five continents. The acquisition is an all-stock transaction that makes Kovi’s investors shareholders in Moove. Kovi has raised over $145 million from investors including Accel, Spectra In…

TechCabal

Uber-backed Moove acquires Brazil’s Kovi to continue expansion

Months after announcing a Series B round led by Uber, Moove has acquired Y Combinator alumni, Kovi.

Uber-backed mobility fintech Moove acquires Brazil’s Kovi, takes ARR to $275M

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