Funding round
Moove Series A
Moove, which works in vehicle ownership and financing services in Itirin, raised $105M in a Series A round announced on 14 Mar 2022, led by Speedinvest, Left Lane Capital and thelatest.ventures. 7 firms took part, 3 of them already investors. It is Moove's first venture round on record.
$105M
Amount raised
of which $40M debt
Not disclosed
Post-money valuation
7
Investors
3 leads
Valuation
What this round says about the price
Moove did not disclose a valuation in this round. It is Moove's first venture round on record, in the year it was founded (2022). It is 20% of the $531M Moove has raised in the venture rounds on record. Moove raised again 17 months later: a Growth round of $76M in Aug 2023, at $550M 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 this round 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 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
Speedinvest, Left Lane Capital and thelatest.ventures led the round with 4 other firms. Speedinvest, Left Lane Capital and thelatest.ventures had backed Moove before.
Lead investors
- Speedinvest backs 186 venture-backed companies existing investor
- backs 77 venture-backed companies existing investor
- thelatest.ventures existing investor
Also in the round
- backs 13 venture-backed companies new investor
- MUFG Innovation Partners new investor
- Phoenix Court backs 45 venture-backed companies new investor
- backs 25 venture-backed companies new investor
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
9 Series A rounds in Car Rental within a year either side disclosed an amount; the median was $19M, and this round was 5.5 times the median. The closest in time, other companies' Series A rounds in Car Rental:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Car Rental | 15 Feb 2022 | $19M | not disclosed | Hertz Global Holdings, Inc. and Certares |
| Car Rental | 7 Jul 2022 | $8.0M | not disclosed | Fonds de solidarité FTQ and Siemens Financial Services |
| Kyte Car Rental | 6 Oct 2021 | $30M | not disclosed | Park West Asset Management and Sterling Road |
| Car Rental | 31 Oct 2022 | $10M | not disclosed | Middle East Venture Partners |
| Car Rental | 30 Jun 2021 | $19M | not disclosed | AutoScout24 |
| Car Rental | 30 Jun 2021 | $19M | not disclosed | AutoScout24 |
| Car Rental | 16 Jun 2021 | $6.0M | $30M | Eksim Ventures |
| Car Rental | 20 Feb 2023 | $59M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Moove raise in its Series A round?
Moove raised $105M in its Series A round, announced in Mar 2022.
Who led Moove's Series A round?
Speedinvest, Left Lane Capital and thelatest.ventures led it, with AfricInvest, MUFG Innovation Partners, Phoenix Court and Kreos Capital.
What was Moove's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Car Rental?
9 Series A rounds in Car Rental within a year either side disclosed an amount; the median was $19M, and this round was 5.5 times the median.
Did Moove raise again after this round?
Yes: a Growth round in Aug 2023 of $76M at $550M post-money.