Investment Summary

Africinvest Invests In Moove

On March 14, 2022, growth capital firm Africinvest invested in financial services company Moove

Investment Highlights
  • This is Africinvest’s 8th transaction in the Financial Services sector.
  • This is Africinvest’s 5th transaction in Nigeria.

Investment Summary
Date 2022-03-14
Target Moove
Sector Financial Services
Investor(s) Africinvest
Deal Type Venture

Target

Moove

Lagos, Nigeria
Moove is a mobility fintech company, providing revenue-based vehicle financing and financial services to mobility entrepreneurs. By embedding its alternative credit scoring technology onto ride-hailing, instant delivery, and e-logistics platforms, Moove can use proprietary performance and revenue analytics to underwrite loans to drivers that have previously been excluded from financial services. Moove provides financing for three product categories - cars, trucks and motorbikes. Moove is based in Lagos, Nigeria.

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Investor(S) 1

Investor

Africinvest

Tunis, Tunisia

Investor Investor Investor Investor Investor

Category Growth Capital Firm
Founded 1994
PE ASSETS 1.9B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Africinvest is a private equity firm focused on growth investments in African companies. The Firm generally targets minority investments in small to medium-sized companies, but Africinvest will consider select majority situations. Africinvest does not have any sector preferences and looks to hold for 4 to 6 years. Africinvest was formed in 1994 and is headquartered in Tunis, Tunisia.

DEAL STATS #
Overall 48 of 54
Sector (Financial Services) 8 of 8
Type (Venture) 9 of 9
Country (Nigeria) 5 of 6
Year (2022) 2 of 4
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