Connect with us

E-Business

Moove Secures USD $100 Million Series B Round

Published

on

Kindly share this post

Moove, the global mobility fintech that democratises access to vehicle ownership for mobility entrepreneurs, today announces that it has raised $100 million in a Series B funding round, valuing the company at $750M. Uber invested in the round alongside Mubadala, who led Moove’s previous funding round in 2023.

The round will enable Moove to expand its customer focused revenue-based vehicle financing offering to 16 markets around the world by the end of 2025.

A considerable portion of this expansion will focus on electric vehicles (EVs), which will lay the groundwork for a more sustainable and accessible mobility ecosystem for its customers worldwide.

Ladi Delano, Founder of Moove, said: “Today’s announcement marks a significant milestone for us. When we founded Moove in 2020, we were motivated to solve the acute shortage of vehicle financing that over two million African mobility entrepreneurs faced.

“This validation from Uber and others stands as a testament to the fact that what was once a dream is now a palpable reality. This infusion of capital is set to amplify the immensely positive impact our products have in the lives of our customers on a much broader spectrum.

“I would like to extend my heartfelt gratitude to our dedicated team of Moovers for their relentless effort and commitment, which has been pivotal in reaching this significant milestone on our company’s journey.”

Moove was founded in 2020 to connect mobility entrepreneurs with fair, accessible, and affordable revenue-based vehicle financing options.

Now based in its new headquarters in the UAE, an emerging nexus for entrepreneurship and innovative startups, the evolving partnership between Moove and Mubadala stands as a prime example of how collaboration between local UAE investors and startups can catalyse growth and innovation both within the UAE and globally.

The UAE stands as a pivotal market for Moove, as it was the first market where Moove launched its fully integrated charging solution, investing in a network of charging stations exclusively for Moove customers.

Additionally, the UAE was Moove’s pioneer market for transitioning to a 100% EV fleet, leading to the Company providing the largest number of EV trips on the Uber UAE platform in 2023.

This strategic focus on sustainability and innovation underscores Moove’s commitment to shaping the future of mobility in the region and supporting the UAE’s vision for economic diversification and technological advancement.

To date, Moove has helped more than 20,000 mobility entrepreneurs across three continents, enabling more than 30 million Moove financed trips to date – resulting in an annual recurring revenue of over $115 million, a significant milestone on the path to profitability.

Ali Eid Al Mheiri, Executive Director of UAE Diversified Assets at Mubadala’s UAE Investments Platform, commented: “We are proud to continue supporting Moove through our second round of funding, not only as a testament to our commitment to nurturing the startup ecosystem in the UAE but also as a reflection of our renewed trust in Moove’s vision and capabilities. This follow-on investment exemplifies Mubadala’s strategy of deploying capital to drive positive change in communities, in addition to fostering innovation and entrepreneurship across the UAE.”

Ladi Delano concluded: “This recent investment is a game-changer for Moove, enabling us to substantially broaden our offerings by introducing 45,000 new vehicles to our platform. This funding milestone not only expands our operational capacity but also supports our drive to profitability by the next financial year.

“We are committed to building Moove in a sustainable, customer focused and profitable way. Moove’s aim is to be at the forefront of the electrification of mobility, which we believe will help steer the world towards a zero-emission future..”


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

E-Business

Kaspersky Warns of a New Phishing Technique Leveraging Bubble, a no-code AI Platform

Published

on

Kindly share this post

Kaspersky has discovered a new phishing tactic used to evade traditional security controls that exploits Bubble, a platform that allows users to build web and mobile applications through a visual interface without writing code.

Attackers are increasingly adopting innovative tools designed for legitimate software development and repurposing them to boost phishing campaigns.

Traditional phishing attacks often rely on malicious links or obvious redirection techniques, which are typically flagged and blocked by modern security systems.

However, attackers are now leveraging Bubble’s no-code environment to generate intermediary web applications which are hosted on Bubble’s legitimate infrastructure and trusted domains such as *.bubble.io, which improves their credibility and helps them bypass security filters.

These applications function as disguised redirectors, silently forwarding victims to malicious credential-harvesting websites.

In the observed campaign, victims were ultimately redirected to a convincing imitation of a Microsoft login page, protected by a Cloudflare verification layer designed to further obscure malicious intent.

This technique is likely being integrated into broader phishing-as-a-service (PhaaS) platforms and phishing kits. These kits enable a wide range of malicious capabilities with ready-made tools, including real-time interception of session cookies, driving phishing campaigns through legitimate services such as Google Tasks and Google Forms, and carry out adversary-in-the-middle (AiTM) attacks that can bypass multi-factor authentication.

They also support the generation of phishing emails using AI, implement geo-filtering and anti-detection mechanisms to evade security crawlers and are often hosted on reputable cloud services like AWS to avoid blacklisting.

“The use of legitimate platforms like Bubble introduces a new level of trust abuse, making it harder for both users and automated systems to distinguish between safe and malicious content. This significantly increases the likelihood of credential theft, unauthorised access and potential data breaches,” comments Roman Dedenok, Anti-Spam Expert at Kaspersky.

 

 


Kindly share this post
Continue Reading

E-Business

NITDA Takes Over National Digital Architecture System

Published

on

Kindly share this post

Nigeria has taken a major step toward strengthening its digital governance framework as the National Information Technology Development Agency (NITDA) officially assumes control of the Nigeria Government Enterprise Architecture (NGEA) infrastructure.

NITDA Takes Over National Digital Architecture System

The handover ceremony held in Abuja, marks the culmination of a high-level partnership with the Korea International Cooperation Agency (KOICA).

This transition signals a shift from fragmented IT projects to a unified, disciplined approach to national digital investment.

The NGEA initiative forms a core part of the e-Government Masterplan 2.0 (Ne-GMP 2.0), aimed at establishing a unified and structured approach to managing government IT investments and digital resources.

The framework is designed to ensure that technology deployment across public institutions aligns with national priorities while improving efficiency and accountability.

With the system now operational, government agencies are expected to adopt more integrated digital processes, allowing seamless data sharing and interoperability.

This is anticipated to reduce duplication, strengthen risk management, and translate policy objectives into measurable digital outcomes.

Over the past two and a half years, Nigerian technical experts worked closely with their Korean counterparts to develop the architecture framework, create reference models, and execute pilot programmes in key institutions.

These include the National Identity Management Commission, Nigeria Customs Service, Nigeria Immigration Service, and NITDA.

Officials say the NGEA represents a shift from fragmented digital efforts to a more coordinated, citizen-focused system.

The infrastructure is hosted by Galaxy Backbone Limited, providing a secure and reliable platform for nationwide deployment.

Looking ahead, NITDA is expected to work with government stakeholders to expand and sustain the system, while the Federal Ministry of Communications, Innovation and Digital Economy will provide policy guidance to ensure its adoption across the country.

 

 


Kindly share this post
Continue Reading

E-Business

FG Shifting Focus to “Meaningful Connectivity” to Drive Inclusion  – Minister

Published

on

Kindly share this post

Bosun Tijani, minister of Communications, Innovation and Digital Economy, has said the government is shifting focus from expanding access to ensuring “meaningful connectivity” that drives economic growth and inclusion.

FG Shifting Focus to “Meaningful Connectivity” to Drive Inclusion  - Minister

Bosun Tijani, minister of Communications, Innovation and Digital Economy

The minister made the statement on Friday while addressing stakeholders at the inauguration of board members of the Universal Service Provision Fund (USPF) in Abuja.

He said that although Nigeria had made significant progress since the introduction of GSM services, millions of people, particularly in rural and underserved communities, remain either unconnected or unable to fully benefit from digital services.

Dr Tijani highlighted ongoing investments in digital infrastructure, including plans to deploy 90,000 kilometres of fibre optic network and nearly 4,000 telecom towers nationwide.

He said initiatives under the USPF had improved access through projects such as rural connectivity and digital facilities in schools but stressed that the next phase must prioritise effective usage.

“It is not enough to connect a community. We must ensure that schools can teach with digital tools and that small businesses can access market opportunities,” he said, citing a pilot project in the Kura community where connectivity has enhanced access to communication, education and healthcare.

Aminu Maida, executive vice chairman, Nigerian Communications Commission (NCC) also called for a shift towards meaningful connectivity, noting that while data usage had grown significantly, it remained concentrated in urban areas.

According to him, recent data shows that telecom usage has increased by about 160% over the past two years, largely driven by urban demand.

“When we drill down, we see that a lot of that growth is actually in urban centres. So, the gap between those who are not connected or not meaningfully connected is growing,” he said.

Dr Maida added that the trend underscored the need for the USPF board to intensify efforts to bridge both access and usage gaps across the country.

Both officials emphasised the importance of collaboration, sustainable investment models and improved digital literacy to ensure that connectivity translates into real economic benefits for Nigerians.

 

 


Kindly share this post
Continue Reading

Trending