

Moove – The Uber-Backed Mobility Fintech Startup Acquires Kovi To Create ‘The Largest And Most Productive Hybrid And EV Fleet In The World’.
The African-born, global mobility fintech, Moove has announced its acquisition of Kovi an Uber-backed Brazilian mobility provider headquartered in São Paulo.
This strategic acquisition aligns with Moove’s commitment to advancing mobility and expanding its footprint in the rapidly growing Latin American market. It not only strengthens Moove’s position as one of the world’s principal rideshare fleet operators, but incorporates Kovi’s proprietary IoT software and advanced driver behaviour algorithm, which complement Moove’s existing focus on safety and efficiency.
These innovations will strengthen Moove’s AI mobility strategy, further advancing its position as a global leader in mobility and autonomous vehicle innovation, while also reinforcing its commitment to driving economic growth in Latin America.
Moove
Moove was founded and launched in Lagos, Nigeria in 2020 by Ladi Delano and Jide Odunsi, enabling delivery drivers to finance automobiles and start driving with partners like Uber in three simple steps: – Apply, Get verified and Drive. Moove started with 76 vehicles in Lagos in 2020 and grew to 36,000 vehicles. Per the company’s website, over 52,787,109 trips have been completed. Additionally, it is available in 19 cities across six continents.

Moove has secured significant funding over the years. In 2023, $8 million had been by Absa Corporate and Investment Banking to reach Ghana, bringing its total investment from the bank to $28 million, Fintech Global reports. $100 million had been raised in a Series B round led by Uber in March 2024 to further its expansion, TechCrunch mentioned.
Kovi
Kovi was founded in 2018 and has established itself as a pioneering force in making vehicle ownership more accessible and efficient through innovative technology and financial solutions. With a robust fleet and a strong presence in Brazil and Mexico, Kovi has demonstrated impressive growth since its launch in 2018. Its innovative approach to driver support and its strong foothold in Brazil bring significant value to Moove’s global operations, strengthening its ability to expand into high growth markets and drive impactful change in mobility. Kovi’s data-driven approach to vehicle management and user experience will complement Moove’s existing capabilities, enabling the company to offer superior services to its customers.
Ladi Delano, Co-Founder and Co-CEO of Moove, said:-
“Kovi has built an impressive business with a robust presence in Brazil, one of the most dynamic mobility markets in the world. We’re thrilled to welcome them to the Moove family. This transaction not only strengthens our footprint in Latin America and reinforces our position as a dominant player in global mobility, but it also underscores our commitment to contributing to the Brazilian economy. Kovi’s proprietary IoT software and advanced driver behaviour models complement our existing capabilities, supporting our focus on safety, efficiency, and innovation in AI mobility.”
Adhemar Milani Neto, CEO of Kovi, said:-
“Today, we stand at the forefront of a new era in mobility, and we believe that Moove has done a fantastic job at scaling their business on a global scale and with the right strategic angles. I met the founders many years back when they were scaling their business in Africa, and I was immediately impressed by their purpose-driven approach, which is also a perfect match to our culture. Together, I believe we will become a truly global category-defining business and will leverage scale and deep expertise never seen in our market. We are also excited to continue our expansion across LaTam now with robustness with such strong partners.”
The completion of the transaction is subject to customary closing conditions, including approval from the Brazilian antitrust authority.