Representatives for Uber and Moove declined to comment.

Africa is home to the fastest-growing population in the world, with many young people increasingly using technology for services including banking, ride hailing and entertainment on a continent that has often lacked traditional infrastructure and institutions. Moove is among several rapidly growing fintech services, such as Flutterwave and Interswitch, founded in Africa’s most populous country, Nigeria. Several have achieved so-called unicorn status, ascribed to startups with valuations of $1 billion or higher.

Nigerian-born Ladi Delano and Jide Odunsi founded Moove in Lagos in 2020 to help would-be drivers for ride-hailing services who couldn’t access vehicle financing. Now headquartered in Amsterdam, the firm has expanded across Africa, the UK, the UAE and India.

The startup uses a credit-scoring system to provide financing to drivers to buy new vehicles for ride hailing, logistics and deliveries using a percentage of their weekly income. It already has a close partnership with Uber.

Moove also closed a $76 million equity and debt round in August last year that included BlackRock Inc. and Mubadala Investment Co.