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A Lagos, Nigeria-founded mobility fintech has secured a historic investment. TechCrunch reports that Moove has announced a $100 million Series B funding round led by Uber — marking the rideshare company’s first investment in Africa. Now, Moove’s valuation is $750 million. “ Today’s announcement marks a significant milestone for us,” Moove Founder Ladi Delano shared in a press release. “When we founded Moove in 2020, we were motivated to solve the acute shortage of vehicle financing that over two million African mobility entrepreneurs faced.” He continued, “This validation from Uber and others stands as a testament to the fact that what was once a dream is now a palpable reality. This infusion of capital is set to amplify the immensely positive impact our products have in the lives of our customers on a much broader spectrum. I would like to extend my heartfelt gratitude to our dedicated team of Moovers for their relentless effort and commitment, which has been pivotal in reaching...
If “something ain’t adding up” was a person, it would be that of a local Uber driver. Most people familiar with the ride-sharing app know that the drivers do not receive the full amount of funds from a ride. According to the operating model, a portion of the charged fees goes to the driver and another to the company . Pretty standard, right? However, a recent situation revealed that one driver only received about 45 percent of the funds charged for what appeared to be a surged ride. via GIPHY
There is no one quite like Usher Raymond IV (Sorry, but we don’t make the rules). And while music may be embedded in Usher’s DNA, he wants the world to know that he has also always been about his business, man. In fact, the superstar revealed that no matter where life takes him, he will always find a way to create music.
Playing the role of mentor and big bro might’ve just laced Usher’s pockets in a huge way. The R&B superstar’s shares in RBMG, the music label responsible for signing Justin Bieber in 2008, were just acquired by HarbourView for an estimated $40 million, Billboard reports. At this time, the company says it is “focused on niche markets and esoteric investment opportunities in the media and entertainment space.” View this post on Instagram A post shared by Usher (@usher)
Working in corporate America is one thing, but serving as a board member across several corporations is another. Ursula Burns went from CEO of Xerox to sitting on various boards for companies including Boston Scientific, the University of Rochester, the MIT Corporation, American Express, Exxon Mobil, Uber, Waystar, and more. During her tenure at Xerox, Burns was the first Black woman to serve as a CEO of a Fortune 500 Company. For this week’s Black Tech Green Money episode, Burns sits down with Heather Hiles, the Managing Partner at Black Ops Ventures and the founder of Pathbrite, during AfroTech Executive Brooklyn. The two discuss the new era of Women In The Boardroom and how to navigate your way into those rooms and claim a seat a the table.
Ball may be life but so is business! From early days of playing basketball to now acting as partners on a new rideshare venture that will bring innovation to the states like never before, Ray Young and Khalid Taylor alongside former NBA player turned entrepreneur, Matt Barnes, are here to change the way you catch a ride from here on out. According to a press release provided to AfroTech, HOPP — the first geosocial ride matchmaking app — offers an added layer of comfort to drivers that it claims the competition does not. The app allows users to book rides based on a personality profile set up within the platform that matches them with people whose interests they align with the most. While the partners stress that you can make money just like you would when driving for Uber and Lyft, that is not the driving factor with the new app, which was founded by co-founders Antoine Allain, Eve Mitchell, and Fabrice Allain. “This is a ‘help you’ service. So, if I’m going in a certain direction,...
Daniel Moses’s story of going from an Uber driver to a millionaire is nothing short of inspirational. The Nigeria native told his story to the British newspaper, The Guardian. He explained that he’d lost more than 150,000 GBP (more than $200,000 USD) in his transportation business, so he had to re-adjust and rethink his strategy. “My search for a better life started in 2004 when I first visited the UK for the first time. In 2015 I lost well over £150,000 in my Nigerian transportation business which caused me to go through anxiety and depression,” he told the outlet. To make ends meet, he first became a delivery driver, then moved on to become an Uber driver. He drove for Uber until he happened to find some information about property investments. He began implementing the strategies he’d learned, and within five years, he’d become a millionaire. “Sixteen months after, I got into property investing, and through the use of various property investment strategies, I have successfully...
Uber and Visa have linked up to support small businesses as the new year continues to unfold. The company has announced its Grants For Growth program which will provide small businesses in 10 U.S. cities with $1 million in funding, according to a press release. The program will be led by Local Initiatives Support Corporation (LISC) with a focus on restaurant recovery and entrepreneurship. “We know that this year has been trying for many and that independently-owned businesses continue to face significant business challenges,” said Sarfraz Maredia, VP of the US and Canada Delivery at Uber in an official press release. “Uber and Visa are committed to supporting SMBs, especially through unexpected events, when they may need us most.”
Throughout his career of nearly three decades, Usher and his philanthropic efforts have greatly supported disadvantaged communities. Today, Usher’s New Look (UNL) — the R&B legend’s nonprofit organization for under-resourced youth — has announced it has received a $500,000 grant from Truist Foundation. View this post on Instagram A post shared by Usher's New Look (@ushersnewlook) The grant will support UNL’s high school leadership program, including its financial literacy programs, according to a press release. “Breaking the cycle of poverty and debt is tantamount to the future success of young people, particularly in these challenging times where we see that there are currently 16 million children living in poverty today,” Careshia Moore , president and CEO of UNL, said in a press release. “This is, therefore, a proud moment for Usher’s New Look, and we are so very grateful to Truist Foundation for this transformational grant that will enable us to further our mission and touch the...
From being an 8x Grammy award-winning artist , to an actor, dancer, songwriter, philanthropist, and successful entrepreneur– Usher Raymond IV proves money ain’t a thang. Over the duration of Usher’s career, he has sold a whopping $75 million records worldwide and for this, and many more reasons; his current net worth is $180 million (with an estimated annual income of $15 million). Let’s be clear: Usher is one of the highest-paid R&B artists of all time and his Las Vegas residency is one of the keys that unlocked doors to some of those millions. While he may be known for his “confessions,” the award-winning star is also known for his various business endeavors. One of his biggest ventures was a venture he formed with Scooter Braun in 2008 called the Raymond Braun Media Group. Sometimes known as RBMG Records, this company was best known for its work in bringing a then-unknown Canadian pop star named Justin Bieber to the mainstream . When Braun discovered Bieber on YouTube, he brought...
African mobility is taking on a new meaning thanks to fintech startup Moove and its company mission. Today, the Nigerian tech-based vehicle financing platform — also Uber’s exclusive car financing and vehicle supply partner in sub-Saharan Africa — announced the raise of a $23 million Series A funding round to help empower more African drivers to buy and own their own cars. View this post on Instagram A post shared by Moove (@mooveafrica) According to a press release, the round was led by Speedinvest and Left Lane Capital, with participation from other investors such as DCM, Clocktower Technology Ventures, thelatest.ventures, LocalGlobe, Tekton, FJ Labs, Palm Drive Capital, Roka Works, KAAF Investments, Spartech Ventures, Class 5 Global, and Victoria van Lennep, co-founder of Lendable. Additional investors also include Africa specialist, Verod Kepple Africa Ventures and existing Moove lender Emso Asset Management. For many of its U.S.-based venture capital backers, Moove is their...