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Moove Exits Nigeria, Transfers N35 Billion in Assets to Customers

Nigerian-founded mobility fintech unicorn Moove is exiting the Nigerian market after six years of operations. As part of its wind-down, the firm is transferring ownership of vehicles valued at approximately N35 billion to eligible existing customers at no additional cost. Additionally, Moove is gifting cars to all its Nigerian employees as a gesture of appreciation for their service. The company, which recently achieved a $2.1 billion valuation following a $250 million Series C round, has raised over $710 million globally to support its international expansion in autonomous mobility and fleet infrastructure. Moove served over 9,000 Nigerian customers, helping them generate N57 billion in total revenue.

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