African-founded mobility company and Endeavor entrepreneur Moove has become the continent’s latest unicorn (companies valued above $1-billion). 

This follows a $250-million Series C investment, valuing the company at $2.1-billion.

A Series C investment is a late-stage equity funding round where mature, successful startups raise large amounts of capital to drive national or international expansion, acquire other companies, or to prepare for an initial public offering.

Founded in Nigeria in 2020, Moove provides vehicle financing and financial services to mobility entrepreneurs.

Its latest raise represents a significant increase from its previously reported $750-million valuation in 2024, and places it among Africa’s most valuable private technology companies.

Moove’s milestone also continues a notable trend for the Endeavor network.

Africa’s last four companies to achieve unicorn status – Moove, Tyme (South Africa), Moniepoint (Nigeria) and MNT-Halan (Egypt) – have all been Endeavor companies, underlining the role high-impact entrepreneurs from the continent are playing in building globally competitive businesses.

Endeavor describes itself as a network created by and for entrepreneurs. The organisation says it selects, supports and invests in businesses “with the greatest potential”, providing them with a platform to train, mentor, and invest in the next generation of entrepreneurs – to pay it forward, so to speak.

Endeavor’s community includes more than 2 900 entrepreneurs in more than 45 markets. As of 2024, these entrepreneurs have generated $88.5-billion in revenue and created more than four-million jobs worldwide.

Endeavor Catalyst – described as a “rules-based, co-investment fund” – was set up to invest in the “same high-impact entrepreneurs” that the network supports.

Endeavor Catalyst is said to be among the world’s top early-stage funders of startups-turned-$1bn-plus companies outside of the US and China.

Endeavor South Africa (SA) opened its offices in 2004.

It was founded by Adrian Gore (Discovery Group CEO and co-founder), David Frankel (Internet Solutions co-founder), Isaac Shongwe (Letsema chairperson) and Paul Harris (RMB Holdings director), and is currently chaired by Barry Swartzberg (Discovery co-founder).

From 2021 to 2025, 27 of Endeavor SA’s entrepreneurs achieved average yearly revenue growth of 29%, generating an additional R12-billion in revenue and creating 5 156 new jobs.

In 2024 alone, the portfolio collectively raised R10-billion in capital.

“Moove is another powerful example of what happens when African entrepreneurs solve real, mass-market problems and build with global scale in mind,” says Endeavor SA MD Alison Collier.

“Its $2.1-billion valuation is important not simply as a headline number, but as further evidence of the significant value being created within Africa’s private markets.

“As these companies continue to grow and build value, they are likely to create credible exit opportunities and realised returns for investors, helping to recycle capital and confidence into the next generation of businesses.”