#74: Moove - How the mobility fintech is providing vehicle financing to mobility entrepreneurs across Africa and the rest of the world

Afrobility: Africa Tech and Business

Overview: Today, we’re going to explore Moove, the mobility fintech. We’ll discuss the story across the following areas:

1. African mobility and transportation context

2. Moove's launch & early history

3. Product & monetization strategy

4. Competitive positioning & potential exit options

5. Our overall outlook.

This episode was recorded on Jan 14, 2024

Companies discussed: Moove, Uber, Lyft, Autochek, Cars45, GoKada, Creditas, Swvl, Lori, Sendy & FairMoney

Business concepts discussed: Revenue-based financing, asset-based lending, Ridesharing & Mobility entrepreneurship

Conversation highlights:

• (01:20) - What Moove does and why we’re talking about it

• (06:57) - Context of mobility and public transportation in Nigeria

• (21:50) - Founders’ background

• (27:50) - Moove founding and early history

• (32:16) - Fundraising

• (43:20) - Growth and Geographical Expansion

• (48:15) - Partnerships

• (1:07:26) - Product and Monetization Strategy

• (1:28:44) - Metrics

• (1:33:50) - Competition and options for exit

• (1:53:10) - Olumide’s overall thoughts and outlook

• (2:09:07) - Bankole’s overall thoughts and outlook

• (2:26:12) - Recommendations and small wins

Olumide’s recommendations & small wins:

• Interested in investing in Africa Tech with Olumide: Read about Adamantium fund & contact me at [e-mail]. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at [e-mail]

• Checkout my FIREDOM book = FIRE (Financial Independence, Retire Early) + Freedom = personal finance and financial independence book. Website, Read: Substack Newsletter & Buy: Print, eBook or Audiobook)

• Recommendation: The Gap and The Gain (by Benjamin Hardy & Dan Sullivan: Book about mindset and approach to life, measuring success, fulfilment and happiness.

• Recommendation: Be Useful: Seven Tools for Life (Arnold Schwarzenegger): Great book by the legend about principles to approach life to get what you want. At this point, I've read all his books and can recommend them all. Arnold records the audiobook end-to-end by himself so be ready for awesomeness

• Small win: Completely revamped by Body Skincare after getting deep into research about this

Bankole’s recommendations & small wins:

• Recommendation: Money Maze Podcast - Interview with the CEO of De Beers && We are different from all other humans in history && The Reality of the Danish Fairytale

• Small win: Successful visa application to South Africa

• Other content: Nigeria’s Secured Lending Opportunity - bankole.org

Listeners: We’d love to hear from you. Email [e-mail] with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at [e-mail]

Investors: It would be great to link up with you. Contact us at [e-mail]

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