Mobility fintech Moove teams up with Uber UK to bring thousands of electric vehicles to London
LONDON, 1 September 2022–(BUSINESS WIRE)–Moove, the world’s first mobility fintech and Uber’s largest vehicle supply partner in EMEA, announces its launch in London as part of its global expansion.
Moove, an African-born startup with a growing global customer base of mobility entrepreneurs, has launched in Europe with a 100% EV lease-to-buy model that provides access to brand new, zero-emission vehicles for a fixed weekly fee. Moove aims to be the largest electric car partner on Uber’s platform in London with plans to scale to up to 10,000 vehicles by the end of 2025, creating sustainable revenue opportunities and contributing to the city’s net zero carbon goals.
London is the global leader of Uber’s electrification efforts with over 6,000 electric cars on the platform – the most of any Uber city. Moove’s London launch will enable Uber to progress towards its goal of becoming an all-electric platform in the capital by 2025.
Transforming mobility concert economies through vehicle financing
Founded by British-born Nigerian entrepreneurs Ladi Delano and Jide Odunsi, Moove launched in Lagos, Nigeria in 2020 to democratize access to vehicle ownership. Having scaled to nine markets in sub-Saharan Africa and India, Moove is leading the charge in the ‘mobility fintech sector’, a white space it created that addresses the challenge of limited access to vehicle finance for millions of gig workers across driving, logistics and instant delivery, of which there are around 4.5 million in the UK alone.
Moov’s alternative credit scoring technology provides access to vehicle financing to gig worker customers who may have previously been excluded from financial services. Over the past two years, Moove has enabled sustainable job creation and a path to assets with its customers who have completed over 7 million trips in Moove-financed vehicles.
In London, Moov’s innovative approach to vehicle finance is designed to give customers access to brand new zero-emission vehicles with a simple registration process, as well as no credit checks, upfront costs or deposits. Other services include regular maintenance, MOT, vehicle insurance, health insurance and a dedicated customer success team, a product offering unmatched by any other company partnering with Uber’s Clean Air Plan.
In addition, Moove customers who ride with Uber can reduce their weekly payments by using funds raised through Uber’s Clean Air Plan to help them cover the costs of switching to an electric car. Uber’s Clean Air Plan has raised over £145m, which equates to around £3,000 per driver. Moove estimates that the 10,000 electric cars it plans to finance by 2025 in London will contribute to a reduction of around 63,000 megatons of carbon dioxide emissions per year.
Ladi Delano, co-founder and co-CEO of Moove, said: “We are proud to have built a business in Africa to now be able to scale our model here in Europe, something no other African fintech company has done before. This also marks a milestone of firsts for us; as we are excited to launch with our first 100% EV fleet. We are thrilled to expand our partnership with Uber to drive our commitment to the electrification of mobility.”
Andrew Brem, Managing Director of Uber UK, said: “Our goal at Uber is to become a 100% electric platform in London by 2025, and we understand that drivers need access to finance if they want to make the transition to an electric vehicle. Moov’s model will help more Uber drivers switch to clean electric faster , to reduce operating costs and help clean up London’s air. With demand from riders higher than ever, our partnership with Moove will benefit both drivers and riders.”
Driving electrification of mobility
Moove aims to solve many of the pain points customers face when switching to an electric car rather than a petrol or diesel-powered vehicle. Moove has launched the first end-to-end charging experience and complete EV charging network app specifically for motorists called Moove Charge™. The app enables Moove customers to find, control and pay for charging across one of the largest roaming networks in London, covering over 6,600 slow, fast and fast charging points. Together, this makes for a better and easier experience for drivers as well as riders as it allows more electric cars to be on the road and reduced wait times for Uber’s growing customer base.
About Moove
Moove is an African-born global startup and the world’s first mobility fintech, offering revenue-based vehicle financing and financial services to mobility entrepreneurs. By embedding its alternative credit scoring technology into ride-hailing, e-logistics and instant delivery platforms, Moove uses proprietary performance and income analytics to underwrite loans for drivers previously excluded from financial services.
See the source version at businesswire.com: https://www.businesswire.com/news/home/20220901005738/en/
Contacts
