AGS NEWS – Mobility company Moove is reportedly in talks to raise $300 million in fresh funding, a move that could push its valuation beyond $1 billion and earn it unicorn status.

The potential funding comes months after Moove acquired Brazil’s car rental company, Kovi, as part of its global expansion strategy beyond Africa.

According to a report by The Information, the new capital will help Moove strengthen its position in sustainable urban transportation and expand its global operations.

Moove, which started by financing vehicles for ride-hailing drivers, has grown into a global fleet management and mobility infrastructure company. It now also supports autonomous vehicle operations in the United States.

The company’s annual revenue rose from $115 million to $360 million in the past year, driven by its vehicle financing for Uber drivers and its growing fleet management services.

Co-founded by Ladi Delano, Moove is currently working with Waymo, Alphabet’s self-driving tech company. In cities like Phoenix and Miami, Moove manages tasks such as charging, cleaning, and storing Waymo’s electric robotaxis.

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Delano noted that the company plans to start acquiring autonomous vehicles (AVs) directly from manufacturers, leasing them to users, and managing the full operations. This could allow current Uber drivers to eventually own AV fleets under Moove’s “drive-to-own” model.

So far, Moove has raised over $750 million in debt and equity from investors including Uber, which holds a stake of over 10%, and Mubadala Investment Company in Abu Dhabi.

With a growing global workforce of over 2,100 employees and more than 90 new hires in the US this year alone, Moove is positioning itself as a key player in the future of autonomous transportation.