African mobility fintech Moove has formed an alliance with Uber UK to provide electric vehicle (EV) financing for Uber drivers.
Through the tie-up, which is part of its global expansion plans, Moove aims to finance 10,000 EVS by the end of 2025.
Moove said it has launched in Europe with an EV rent-to-buy model, which provides access to EVs with no upfront costs or deposits.
The financing platform uses alternative credit scoring technology to provide financing services to underbanked gig workers.
Moove’s services in London will be complemented by services such as regular maintenance, MOT, auto insurance and health insurance among others.
Moove co-founder and co-CEO Ladi Delano 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.”
Uber UK general manager Andrew Brem 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.”
As part of the expansion, Moove has also launched an end-to-end EV charging network app solution, called Moove Charge.
The offering is aimed at ride-hailing drivers to provide them access to roaming networks in the city.