TechEconomy
  • Privacy Policy
  • Manage Subscriptions
Tuesday, December 5, 2023
Advertisement
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Gadgets and Appliances
      • Apps
      • Laptop
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • TECHECONOMY TV
No Result
View All Result
Podcast
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Gadgets and Appliances
      • Apps
      • Laptop
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • TECHECONOMY TV
No Result
View All Result
Tech | Business | Economy
No Result
View All Result
Podcast

Home » “We want to Become Global Leader in Electrification of Ride-hailing,” says Moove

“We want to Become Global Leader in Electrification of Ride-hailing,” says Moove

Justice Godfrey Okamgba by Justice Godfrey Okamgba
July 25, 2022
in Travel
0
Sifax
Advertisements

Moove, the world’s first mobility fintech said it wants to become a global leader in the electrification of ride-hailing and mobility after recently partnering with Uber to launch in India.

Moove, which provides revenue-based financing to mobility entrepreneurs, has expanded from its African roots to Mumbai, Hyderabad, and Bangalore to provide accessible vehicle financing to driver partners on Uber’s platform. 

RelatedPosts

United Nigeria Airlines

United Nigeria Airlines Apologises as NCAA Lifts Suspension on Wet Lease Aircraft

December 3, 2023

Why FAAN Banned Air Travelers with ‘Ghana Must Go’

December 1, 2023

In what will be one of Uber India’s largest vehicle partnerships, Moove will be launching 5,000 EV and CNG vehicles within the first year, with plans to scale to 30,000 over the next five years, creating sustainable employment opportunities in a rapidly developing economy. 

Moove Transforming mobility gig economies through vehicle finance

Half of the world’s 1.1 billion gig workers are denied access to financial services and lack access to credit because traditional banks rely on historical data to underwrite their loans. In emerging markets across Africa, Asia and MENA, poor credit penetration is restricting the ability of millions of people from buying new vehicles – India has extremely low vehicle ownership with less than 25 per 1,000 people compared to Europe where it is 600+ per 1000 people. 

Founded in 2020, Moove was launched to democratize access to vehicle ownership. It is leading this charge in the ‘mobility fintech sector’, a white space created by Moove which is solving the challenge of limited access to vehicle financing for millions of people in emerging markets.

To do this, the company leverages proprietary performance and revenue analytics to underwrite loans to customers who have previously been excluded from financial services. Over the past two years, Moove has enabled sustainable job creation and a path to asset ownership with its customers having completed over 5 million trips in Moove-financed vehicles. 

The company is now bringing its impact-led model to India, its first expansion outside of Africa, as part of its mission to close the finance gap for mobility entrepreneurs globally. Similar to sub-Saharan Africa, Moove’s innovative model will help thousands of drivers return to work, by putting 5,000 vehicles on the road within the first year, with the intent of scaling to 30,000 vehicles and becoming Uber India’s mega-fleet partner across 300 cities over the next five years. 

Powering the electrification of mobility

Moove aims to be a global leader in the electrification of ride-hailing and mobility with a commitment to ensuring that 60% of the vehicles it finances globally are hybrid or electric. India has recently set targets for improving renewable energy uptake and reducing harmful emissions by 2030, creating the perfect market opportunity for Moove to provide accessible financing for fuel-efficient and electric vehicles. 

Ladi Delano, Co-founder, and co-CEO at Moove said, “As our first global expansion outside of Africa, launching in India is a very special moment for the whole Moove team. 

We’re excited to be expanding our revenue-based vehicle financing model to enable the sustainable creation of jobs across the country, where there are some of the lowest vehicle ownership rates in the world, in part because of the lack of access to credit. We are delighted to be expanding our Uber partnership to solve this problem for our new customers in India.” 

Binod Mishra, Regional GM for South Asia at Moove, said, “We’re looking forward to working closely with the Uber India team to roll out Moove’s innovative platform, starting in Mumbai, Hyderabad, and Bangalore, and scaling up to many more cities over the next five years.” 

Abhilekh Kumar, Director, Business Development, Uber India South Asia, said,  “This partnership is aimed at enabling access to vehicles among mobility entrepreneurs at a time when capital availability is the key issue. The Moove team has created an innovative “rent to own” model that can fundamentally transform vehicle ownership in the country.

We’re excited about their potential to unlock sustainable livelihood creation by removing the existing barriers to ownership. It’ll help drivers seamlessly grow their own businesses and create a more sustainable mobility infrastructure in India.

With demand from riders higher than ever in India, we’re looking forward to partnering with Moove to ensure we can provide an unparalleled experience to both drivers and riders on our platform in our top markets.” 

Share this:

  • X
  • More
  • Email
  • WhatsApp
Tags: ehailingMooveUber
Previous Post

Tizeti at 10 and the Growing Ambitions of a Cyber Revolutionary | By Temitope Osunrinde

Next Post

Seedstars Announces First Close of $30 Million Emerging Market Seed Stage Fund

Justice Godfrey Okamgba

Justice Godfrey Okamgba

Related Posts

United Nigeria Airlines
Travel

United Nigeria Airlines Apologises as NCAA Lifts Suspension on Wet Lease Aircraft

by Techeconomy
December 3, 2023
0

The Nigerian Civil Aviation Authority (NCAA) has lifted the suspension placed on all wet lease aircraft in the fleet of...

Read more
FAAN bars Ghana Must Go Bags

Why FAAN Banned Air Travelers with ‘Ghana Must Go’

December 1, 2023
Festus Keyamo Minister of Aviation

Africa Must Harness Emerging Technologies to Grow Aviation – Keyamo

December 1, 2023
Emirates on Christmas Travel

December: Emirates Estimates 75,000 Passengers to Travel from Dubai Each Day

November 30, 2023
Aero Contractors

Aero Relaunches Calabar Route as Governor Plans Additional Three Aircraft

November 28, 2023
United Nigeria Airlines

NCAA Suspends All United Nigeria Airlines’ Wet-leased Aircraft

November 27, 2023
Next Post

Seedstars Announces First Close of $30 Million Emerging Market Seed Stage Fund

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms & Conditions and Privacy Policy.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

TECHECONOMY PODCAST

Techeconomy Podcast
Techeconomy Podcast

Techeconomy Podcast is brought to you by TechEconomy. Every week we will bring new stories from startups and influencers who are shaping and changing the world we live in. We’ll also bring you reports on topics you should know.

Follow us @techeconomyng for more.

Listen OnSpotify
The Role of Ed-tech in Life Long Learning and Continuous Education
byTecheconomy

In this episode, we embark on a profound exploration of Ed-tech's integral role in lifelong learning and continuous education.

Our esteemed guest, Oluwatobi Adekunle, Co-founder of Growthskool, brings a wealth of insight to the discussion. As a visionary in the Ed-tech realm, he shares experiences, challenges, and triumphs from the forefront of Growthskool's transformative journey.

Join us in unraveling the ways in which Ed-tech is reshaping traditional education paradigms and fostering a culture of continuous learning. Oluwatobi's perspective offers a unique lens into the transformative power of technology in the realm of education.

At Techeconomy, our commitment lies in delivering nuanced coverage at the crossroads of Technology, Business, and the Economy. Our content is designed to empower decision-making and explore the transformative potential of innovative technologies.

—

Send in a voice message: https://podcasters.spotify.com/pod/show/techeconomy/message

The Role of Ed-tech in Life Long Learning and Continuous Education
The Role of Ed-tech in Life Long Learning and Continuous Education
October 19, 2023
Techeconomy
Filmmaking and Technology: A chat with Micheal Chineme Ike
June 7, 2023
Techeconomy
Search Results placeholder

NEWSLETTER

Subscribe

* indicates required
Techeconomy

Follow Us

MarkTECH

Gamification and Customer experience
MarkTECH

Gamifying Customer Engagement for Success 

by Techeconomy
November 13, 2023
0

Writer: ADEOLA ADEJOKUN Let's talk about the addictive nature of video games for a second. What keeps players glued to...

Read more

WomenPreneurs

Rukayat Alabi - RKY Group of Companies
WomenPreneurs

Rukayat Alabi: Empowering Lives and Businesses Through Tech

by Joan Aimuengheuwa
October 29, 2023
0

Rukayat Alabi, the CEO of RKY Group of Companies, a visionary entrepreneur who is revolutionizing the way people transition into...

Read more

BusinesSENSE For SMEs

Managing Difficult Customer
BusinesSENSE For SMEs

Five Keys to Managing Difficult Customers

by Techeconomy
August 23, 2023
0

You will at one point in your business be confronted with dealing with difficult customers. So, mastering the right strategies...

Read more
  • About Us
  • Contact Us
  • Policy
  • Careers

© 2023 Techeconomy - Designed by Opimedia.

No Result
View All Result
  • News
  • Tech
    • DisruptiveTECH
    • ConsumerTech
      • Accessories
      • Phones
      • Gadgets and Appliances
      • Apps
      • Laptop
    • How To
    • TechTAINMENT
  • Business
    • Telecoms
      • Broadband
    • Mobility
    • Environment
    • Travel
    • Commerce
    • StartUPs
    • TE Insights
    • Security
  • Partners
  • Economy
    • Finance
    • Fintech
    • Digital Assets
    • Personal Finance
    • Insurance
  • Features
    • IndustryINFLUENCERS
    • Guest Writer
    • Appointment
    • EventDIARY
    • Editorial
  • TECHECONOMY TV

© 2023 Techeconomy - Designed by Opimedia.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.