Moove, a trailblazing player in Nigeria’s mobility and logistics sector, has successfully raised $76 million in a financing round that promises to reshape the landscape of transportation and mobility services in the country.

This substantial investment further solidifies Moove’s position as a driving force behind innovative transportation solutions.

The company’s unique approach to automobile financing, which utilizes a hire-purchase model, has garnered attention from both investors and industry experts.

Under this model, Moove rents cars to drivers, allowing them to ultimately become car owners once they complete payments based on a predetermined value set by the company.

This infusion of funds will enable Moove to accelerate its efforts in bringing affordable and flexible mobility solutions to Nigerian drivers, fostering economic opportunities and contributing to the growth of the local transportation ecosystem.

The financing round boasts support from 31 investors, including prominent names such as BlackRock and Mubadala.

It said in a statement that, “Moove is different from typical mobility companies like Uber or Taxify; instead, it operates as an automobile financing startup that employs a hire purchase model. Under this approach, Moove rents cars to drivers, who eventually become car owners after paying the predetermined value set by Moove.”

According to the statement, the collective efforts of Nigerian mobility and logistics startups were making a substantial impact, employing 1,374 individuals in total, averaging around 49 employees per company, as highlighted by Disrupt Africa’s research.

With this successful funding round, Moove has now raised $550 million across 15 rounds as it eyes unicorn status. “Unicorn” status—a term used to describe privately held startup companies valued at over $1 billion—represents a significant milestone in the realm of entrepreneurship and innovation.

Nigerian health tech startup Helium Health has secured $30 million in series B funding to expand its offering across Africa.

The funding round was led by AXA IM Alts, with participation from Capria Ventures, Angaza Capital, Anne Wojcicki, and Flatworld partners. Other existing investors that participated in the round include Tencent, Ohara Pharmaceuticals, LCY Group, WTI, and AAIC.

With the recent funds raised, Helium Health seeks to expand the reach of its fintech product Helium Credit, which is one of the leading digital finance products for Africa’s healthcare sector.

Speaking on the recent funds raised, Helium Health CEO and Co-founder Adegoke Olubusi said, “We believe in a future where good healthcare is a reality for Africans, not just a few. We are deeply committed to supporting both private healthcare providers and public health stakeholders with finance, technology, and data to achieve that vision. We are delighted to have such seasoned healthcare investors accompany us on our journey”.

Also commenting on the funding round, Helium Health lead investor AXA IM Alts through the head of impact investing Jonathan Dean said, “We are delighted to invest, through AXA IM Alts’ impact investing strategies, in ‘Helium Health’s mission of providing digital solutions to improve the quality and efficacy of health services in resource-constrained environments, whilst also directly equipping health sector enterprises with affordable financial services. This investment directly contributes to AXA IM Alts’ broader impact goals of improving financial inclusion and reducing inequalities globally.”

Launched in 2020, Helium Health has extended more than $3.5 million in credit to over 200 healthcare facilities in Nigeria, including pharmacies, diagnostics centers, Hospitals, and Clinics, which have used the loans to purchase medical equipment and medications in bulk and also expand their locations.

The health tech startup works with leading global health organizations and governments, supporting them to execute their strategies, informing policy and decision-making, and improving outcomes for us all. The YC-backed HealthTech startup claims to be the widest-reaching EMR platform in West Africa, used by over 10,000 health workers across 1,000 facilities to care for over 1 million African patients, Investors King understands.

Since Helium’s health series A investment, it has grown its credit from $250,000 to a handful of healthcare facilities to more than $3.5 million across 200+ healthcare facilities in Nigeria.

Technology-driven company that provides hassle-free last-mile logistics services to businesses and individuals across Africa, Fez Delivery has raised $1 million in a seed round to deepen its products offering and expand operations to other African markets.

The funding round was led by Ventures Platform, with participation from other investors such as Voltron Capital, and Acasia Ventures as well as other Angel investors.

This funding announcement follows Fez Delivery’s acceptance as one of the only two logistics companies in Nigeria to have received investment from Techstars Toronto, an elite global tech accelerator.

Speaking on how the recent capital raised will be deployed, Fez Delivery CEO Seun Alley disclosed that the company will continue to push towards leveraging technology to solve real problems.

In her words, “With this funding, we are repositioning as a full-fledged tech company focused on last-mile deliveries. We are currently focused on the $10 billion transport and logistics market in Nigeria, where we still have room to grow. We plan to keep growing in Nigeria and expand to other markets starting in the last quarter (Q4) of this year. Ghana, Kenya, and South Africa are on our list, but we haven’t decided on the order yet. While the platform is currently in development, interested parties can sign up to join the waitlist”.

Also commenting is the company’s co-founder and CTO Oluwafemi Jose who said, “Our goal has always been to create something truly transformative. We are excited to use this funding to accelerate our innovation, expand our team, deepen our development efforts and bring more value to our customers and partners”.

Founded in 2020, Fez delivery distinguishes itself from its competitors by offering tailored and hybrid solutions that combine physical touch-points with technology to serve its customers.

The startup offers APIs to its business clients and claims over 17,000 people currently use its platform, with 70% being individuals and 30% being a mix of SMEs and startups.

Fez Delivery makes money by charging individuals per delivery, and businesses a monthly subscription. It offers customers live tracking. Upon placing an order, customers will receive a tracking ID to track their order with an up-to-the-minute status report as well as the courier’s live location, Investors King understands.

In 2022, the logistics startup completed 200,000 trips and grew revenue by 20% month-on-month. Fez delivery boasts a team of well-trained professionals that provide best-in-class services and are committed to making the delivery as hassle-free as possible. Some of its partners include Opay, Kuda, Fairmoney, Techstars, Flutterwave, and paystack