Moove Aims for $2 Billion+ Valuation in New Funding Round

Moove, a vehicle-financing startup backed by Uber, is reportedly raising over $300 million at a valuation above $2 billion to scale its autonomous vehicle ambitions. The company has grown rapidly, operating in over a dozen markets and achieving EBITDA breakeven. The fresh equity would give Moove extra firepower to compete in the global mobility race.

Moove, a vehicle-financing startup backed by Uber (NYSE:UBER), is reportedly raising over $300 million in fresh equity at a valuation above $2 billion. The funding round, which aims to enhance its autonomous vehicle business, is a significant milestone for the company Uber-backed Moove seeks fresh capital at $2B valuation - report^[1].

Founded in 2020 by Ladi Delano and Jide Odunsi, Moove has expanded rapidly, operating in more than a dozen markets, including the UAE, Mexico, and India. The company's revenues have surged from around $50 million in 2024 to nearly $400 million in annualized recurring revenue, with Moove achieving EBITDA breakeven in late 2024 Uber-backed Moove seeks fresh capital at $2B valuation - report^[1].

In July, Moove raised over $1 billion in debt to finance an autonomous-driving rollout with Alphabet’s (GOOG) (GOOGL) Waymo and expand in the U.S. The new funding round would provide additional capital to support these ambitious expansion plans Uber-backed Moove seeks fresh capital at $2B valuation - report^[1].

Moove's strategic funding initiative aims to elevate its valuation past the $2 billion mark, further accelerating its advancements in the autonomous vehicle sector. The company's rapid revenue growth and operational efficiency, as evidenced by its EBITDA breakeven in 2024, underscore its potential for continued success Moove Eyes $300 Million Funding, Backed by Uber (UBER)^[2].

The fresh equity would give Moove extra firepower to compete in the global mobility race, where the autonomous vehicle market is expected to grow significantly in the coming years. With Uber's backing and a strong financial foundation, Moove is well-positioned to capitalize on this growth opportunity.