Moove, a mobility fintech company, has expanded across Latin America with the launch of its operations in Mexico City.
The expansion comes less than two months after the company entered the U.S. market, continuing its mission to provide vehicle financing and support to drivers.
In a statement on LinkedIn, Moove wrote: “Getting Mexico on the Moove! We’re excited to share that Moove has officially hit the streets of Mexico City! The first vehicles have been delivered to our drivers, marking a significant milestone in our LatAm expansion,” the company announced.
“With our Mexico team now fully onboard and operations underway, we’re driving towards a future of mobility that empowers drivers to achieve their goals and gain financial independence.”
Moove offers its customers financial independence by providing access to vehicle financing through its innovative lease-to-own model. The company partners with ride-hailing and delivery platforms, enabling drivers to own their vehicles while earning an income.
The goal is to create a positive social and economic impact by offering drivers in emerging markets access to vehicles and financial services.
Moove has set goals to further drive its impact globally, including gender equality, targeting a 50% female customer base, and promoting clean energy by building the world’s largest hybrid and electric vehicle fleet.
The company also focuses on financial inclusion, ensuring that customers have access to financial services that may have previously been out of reach.
Currently operating in seven countries including Nigeria, South Africa, Ghana, the UK, India, the UAE, and the US, Moove aims to enter new markets by 2025 as part of its growth strategy and its entry into Mexico is in line with this goal.
Ladi Delano and Jide Odunsi founded Moove in 2020 to provide vehicle financing solutions to ride-hailing drivers. These drivers can gradually own their vehicles, with payments automatically deducted from their weekly earnings.
In recent years, Moove has shifted its focus towards electric vehicles (EVs), with its entire fleet in the UAE now fully electric as of 2023. The company has also rolled out EVs in the UK and is preparing to introduce more than 20,000 electric vehicles into its Indian market.
With Moove’s operations in Mexico City, the company looks ahead to further growth across Latin America. “This is just the beginning, and we’re proud to play a role in creating a positive impact across the region,” Moove emphasized.
Drivers in Mexico City can now apply to Moove, get verified, and start driving with one of its partner platforms, joining the global community of drivers working towards vehicle ownership and financial independence.
