Fintech

Mobility Fintech Moove Joins Forces With Uber UK To Add 10,000 Electric Vehicles In London

A colleague of mine was recently in London. He told me that he estimates that about 75% of his Uber rides on this latest trip to the capital of the United Kingdom were in electric vehicles. Quite a lot of these rides were in Teslas. He was quite excited about this. London is the global leader for Uber’s electrification efforts with over 6,000 EVs on the platform — the most of any Uber city. Uber has a target of becoming an all-electric platform in London by 2025.

Moove, the world’s first mobility fintech, has just announced a partnership with Uber in the UK. Moove is Uber’s largest vehicle supply partner in EMEA and is now launching in London as a part of its global expansion. Moove was founded by British-born Nigerian entrepreneurs Ladi Delano and Jide Odunsi. The company launched in Lagos, Nigeria, in 2020 and has now scaled to nine markets across sub-Saharan Africa and India.

Moove is launching in Europe with a 100% EV rent-to-buy model that provides access to brand new, zero-emissions vehicles for a flat weekly fee. Moove aims to be the largest EV partner on Uber’s platform in London with plans to scale to up to 10,000 vehicles by the end of 2025, creating sustainable earnings opportunities and contributing to the city’s net zero carbon emissions goals. As part of the launch, Moove has also rolled out Moove Charge™, the first end-to-end and complete EV charging network app solution specifically for ride-hailing drivers providing access to one of the largest roaming networks in the city. Moove is leading the charge in the mobility fintech sector, a white space it created, and which is solving the challenge of limited access to vehicle financing for millions of gig workers across ride-hailing, logistics, and instant delivery sectors, of which there are around 4.5 million in the UK alone.

Moove’s announcement adds:

Moove’s alternative credit scoring technology provides access to vehicle financing to gig worker customers who may have previously been excluded from financial services. Over the past two years, Moove has enabled sustainable job creation and a path to asset ownership with its customers having completed over 7 million trips in Moove-financed vehicles.

In London, Moove’s innovative approach to vehicle financing is designed to empower its customers with access to brand new, zero-emission vehicles with an easy sign-up process as well as no credit checks, upfront costs, or deposit needed. Other services include regular maintenance, MOT, vehicle insurance, health insurance and a dedicated customer success team, a product offering not matched by any other company partnered with Uber’s Clean Air Plan.

In addition, Moove customers driving with Uber can reduce their weekly payments by using funds raised through Uber’s Clean Air Plan to help them meet the cost of switching to an EV. Uber’s Clean Air Plan has raised over £145 million, equating to approximately £3,000 per driver. Moove estimates that the 10,000 EVs it plans to finance by 2025 in London will contribute a reduction of around 63,000 megatonnes of carbon dioxide emissions per year.

Ladi Delano, co-founder and co-CEO at Moove, said: “We are proud to have built a business in Africa to now be able to scale our model here in Europe, which is something that no other African fintech company has done before. This also marks a milestone of firsts for us; as we are excited to be launching with our first 100% EV fleet. We are thrilled to be expanding our partnership with Uber to drive our commitments towards the electrification of mobility.”

Andrew Brem, general manager at Uber UK, said: “Our aim at Uber is to become a 100% electric platform in London by 2025 and we understand that drivers need access to financing if they want to make the transition to an electric vehicle. Moove’s model will help more Uber drivers switch to pure electric faster, to reduce their running costs and help clean up London’s air. With demand from riders higher than ever, our partnership with Moove will benefit drivers and riders alike.”

Moove aims to solve many of the pain points facing its customers when switching to an electric car over a petrol or diesel-powered vehicle. Moove has launched the first end-to-end charge experience and complete EV charging network app specifically for ride-hailing drivers called Moove Charge™. The app enables Moove customers to locate, control, and pay for charging across one of the largest roaming networks in London, covering over 6,600 slow, fast and rapid charge points. Altogether, this provides a better and easier experience for drivers as well as riders as it enables more electric cars to be on the road and reduced wait times for Uber’s growing customer base.


 

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