Tunis, Tunisia – August 31, 2022. movethe world’s first mobility fintech, today announced the signing of a memorandum of understanding [MoU] with MUF extensionone of the world’s leading financial groups e Suzuki, one of the world’s leading manufacturers of vehicles for mobility companies. Through this MoU, Moove, which provides revenue-based finance to mobility entrepreneurs, aims to promote financial inclusion and job creation, as well as upskilling opportunities in the sector.
Signed in the eighth Tokyo International Conference on African Development [TICAD] conference, the tripartite MoU is an important milestone for African fintech and underscores the opportunity to harness technology to improve the lives of millions of people in emerging markets. Moove’s alternative credit rating technology will enable mobility entrepreneurs access to vehicle financing, backed by the strength of MUFG’s global network capabilities and Suzuki’s expertise in manufacturing durable, high-performance, fuel-efficient vehicles of fuel. The Memorandum of Understanding creates a framework in which the parties can work closely together.
Fleet of Moove Suzuki vehicles
Launched in Lagos, Nigeria in 2020, Moove is a mission-driven company committed to enabling mobility entrepreneurs to be productive and successful by providing access to vehicle financing and other financial services. Since then, Moove has reached seven markets in sub-Saharan Africa and six markets in MENA, Asia and Europe, and its customers have completed more than 7 million journeys in Moove-funded vehicles. Moove is also working to solve other mobility challenges, including providing access to finance for more female customers, as well as improving road safety and training support for mobility entrepreneurs.
To find out more about Moove and its mission to democratize vehicle ownership, visit: https://www.moove.io/
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For more information about Moove, please contact Tingting Peng | tingting.peng@moove.io
About Move
Moove is a global African-born start-up and the world’s first mobility fintech, providing vehicle finance and revenue-based financial services to mobility entrepreneurs. Incorporating its alternative credit scoring technology across ride-hailing, e-logistics and instant delivery platforms, Moove uses proprietary performance and revenue analytics to take out loans to drivers who may have previously been barred from financial services. Backed by some of the world’s leading investors, Moove has raised over $200 million to date and its customers have completed over 7 million trips in Moove-funded vehicles. With a commitment to ensuring that at least 60% of its fleet is hybrid and electric vehicles and that 50% of its customers are women, Moove is a mission-driven company that puts impact at the heart of its growth. Moove was recently awarded the IFC’s Annual Corporate Award as one of the 20 most impactful and transformative projects, applying an innovative and scalable solution to a global problem.
