African-born mobility fintech firm, Moove, is seeking to raise over $300 million in fresh equity financing, with discussions valuing the company at more than $2 billion.

Moove, which is backed by Uber, provides vehicle financing to mobility entrepreneurs who often lack access to traditional credit. Drivers acquire cars through the platform and repay loans via a portion of their weekly earnings.

The company has rapidly expanded beyond Africa and now operates in more than a dozen markets, including the UAE, Mexico, and India. Its revenues have surged from about $50 million in 2024 to nearly $400 million in annualized recurring revenue, while achieving EBITDA breakeven late last year.

If successful, the new round would cement Moove’s position among Africa’s most valuable startups, bolstering its expansion plans and funding its ambitions in the autonomous vehicle space.

The fundraising also underscores renewed investor confidence in Africa’s tech ecosystem, particularly in sectors bridging fintech and mobility.