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

Jan 23, 2024

Explore Moove, a mobility fintech startup providing vehicle financing to mobility entrepreneurs in Africa and worldwide. Topics covered include African mobility context, Moove's launch and early history, product and monetization strategy, competitive positioning and potential exit options. The podcast also discusses interesting concepts like revenue-based financing, asset-based lending, and ridesharing entrepreneurship. Plus, insights on partnerships, growth, metrics, and competition in the mobility fintech industry.

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Introduction

00:00 • 2min

Moove: Providing Vehicle Financing and Liquidity to Ride-Hailing Marketplaces

01:54 • 2min

Exploring Leasing and Lending in the Mobility Fintech Industry

03:48 • 3min

Transportation System in Lagos, Nigeria

06:36 • 10min

Logistics and Road Quality

16:55 • 20min

Fundraising as a Skill for Founders and the Significance of Debt Financing

36:40 • 2min

Car Selection and Revenue Potential

38:31 • 15min

Funny Story of a Move Car and the Challenges of Car Repairs

53:41 • 2min

Partnerships, Headquarters, and Potential Investments

55:55 • 8min

Factors Affecting Interest Rates and Risk Pricing in Lending

01:04:25 • 2min

Vehicle Financing for Mobility Entrepreneurs in Africa

01:06:20 • 14min

Hidden Costs of Car Financing

01:19:53 • 13min

Options for Drivers in Nigeria

01:32:37 • 7min

Moove: Zero percent down payment for ride-sharing drivers in Africa

01:39:24 • 20min

Financing Mass Transit Systems in Africa

01:59:36 • 14min

The Nature of the Company and Risks Faced

02:13:36 • 14min

Lab-Grown vs. Natural Diamonds: Disrupting the Market

02:27:36 • 5min

Exploring Changes in Society and the Danish Healthcare System

02:32:50 • 2min

Trade-Offs in Life and Decision-Making

02:34:57 • 5min

Skincare Routines and Tips: Showering after Workouts and Avoiding Daily Exfoliation

02:39:45 • 3min

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

African mobility and transportation context
Moove's launch & early history
Product & monetization strategy
Competitive positioning & potential exit options
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 olumide@afrobility.com. Founders looking for funding: If you're a B2B founder working on Education, Health, Finance or food, please contact me for funding at olumide@afrobility.com
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 info@afrobility.com with feedback!

Founders & Operators: We'd love to hear about what you're working on, email us at info@afrobility.com

Investors: It would be great to link up with you. Contact us at info@afrobility.com

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