Funding round
Moove Growth
Reported as "Growth Equity"
Moove, which works in vehicle ownership and financing services in Itirin, raised $76M in a Growth round announced on 10 Aug 2023, led by Mubadala, at a $550M post-money valuation. 2 firms took part. It is Moove's second venture round on record; the one before was a Series A in Mar 2022.
$76M
Amount raised
of which $10M debt
$550M
Post-money valuation
2
Investors
1 lead
12%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Moove at $550M after the new money. The $76M bought investors about 12% of the company. It came 17 months after Moove's Series A. It is 14% of the $531M Moove has raised in the venture rounds on record. Moove raised again 7 months later: a Series B round of $100M in Mar 2024, at $750M post-money.
Moove's funding rounds
Moove has 4 venture rounds on record and 5 other deals. This one is highlighted.
- Debt not a venture round 1 May 2021 $40M
- Series A 14 Mar 2022, led by Speedinvest, Left Lane Capital and thelatest.ventures $105M
- Other not a venture round 19 Oct 2022 $17M
- Debt not a venture round 8 Dec 2022, led by Franklin Templeton Investments (ME) Ltd. $30M
- Other not a venture round 7 Jul 2023 $8.0M
- Growth this round 10 Aug 2023, led by Mubadala $76M$550M post-money
- Debt not a venture round 14 Feb 2024 $10M
- Series B 19 Mar 2024, led by Uber $100M$750M post-money
- Series C 5 Aug 2026, led by Mubadala, Woven Capital and Ion Pacific $250M$2.10B post-money
Investors
Who put money in
Mubadala led the round with 1 other firm.
Lead investor
- Mubadala backs 42 venture-backed companies new investor
Also in the round
- BlackRock new investor
Joined the board: Faris Sohail Al Mazrui (Mubadala Investment Company).
Use of proceeds
What the money is for
According to the announcement, the money goes to geographic expansion, sales and marketing, scaling operations and working capital.
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
The closest in time, other companies' Growth rounds in Car Rental:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Car Rental | 22 Feb 2023 | $100M | not disclosed | Naspers Limited and ARS Holdings |
| Vertelo Car Rental | 22 Apr 2024 | $1.50B | not disclosed | not named |
| Car Rental | 10 Apr 2024 | $217M | not disclosed | Hy24 |
| Car Rental | 26 Aug 2024 | $6.3M | not disclosed | Taiwan Mobile |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did Moove raise in its Growth round?
Moove raised $76M in its Growth round, announced in Aug 2023.
Who led Moove's Growth round?
Mubadala led it, with BlackRock.
What was Moove's valuation at the Growth round?
$550M post-money.
Did Moove raise again after this round?
Yes: a Series B round in Mar 2024 of $100M at $750M post-money.