The British International Investment, the UK government’s Development Finance Institution has announced that it has invested $20 million in debt funding in Nigeria’s mobility financing startup Moove.
Moove, which raised $10 million in debt financing in February and mega funding of $105 million a month after, has shown that it has a huge appetite for funding.
Ladi Delano, co-founder and co-CEO at Moove, says BII’s strategic support will play a key role in its mission to build the world’s largest integrated vehicle financing platform for mobility entrepreneurs.
Delano says that the new debt funding puts his company in a stronger position to use its technology and productivity data in creating a more inclusive financing ecosystem