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Moove is a mobility fintech company on a mission to drive productivity and success for the world’s mobility entrepreneurs by democratising access to vehicle ownership for those with limited or no access to a vehicle or vehicle financing. We use our revenue-based financing model on a global scale to serve millions of entrepreneurs in the mobility industry.

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Money Fellows is a financial technology company that digitizes traditional money circles (ROSCAs) through a mobile app, allowing users to join flexible saving and lending groups with multiple payment options

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Abwaab is an online learning platform that allows secondary-school students to learn at their own pace, test themselves and get ahead with our expert tutors anytime and anywhere. By offering short, engaging video lessons, visualized learning journeys, continuous assessment and performance analytics, we are changing the way students learn outsidethe classroom.

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Axis offers a digital banking platform for small businesses and their employees.

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AlgoDriven helps dealers, finance and insurance companies, accurately identify and price used cars.

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In Nigeria, owning a car is a luxury very few people can afford. It is a similar case across Africa, where car owners often recycle used cars between themselves because of the difficulty of accessing new ones. Moove, an African mobility company with a fintech play, wants to change that, and is raising $23 million in Series A to scale rapidly across the continent.Speedinvest and Left Lane Capital led the Series A round. Other investors like DCM, Clocktower Technology Ventures, thelatest.ventures, LocalGlobe, Tekton, FJ Labs, Palm Drive Capital, Roka Works, KAAF Investments, Class 5 Global, Victoria van Lennep (co-founder of Lendable), Verod, Kepple Africa Ventures and one of Moove’s existing lenders, Emso Asset Management, also joined the round. Moove’s investment is the first for many of its U.S. backers in this round.

Moove raises $23M to create flexible options for drivers to own cars in Africa

Nigeria-based auto-financing startup, Moove has announced a $23 million Series A to build a full-service mobility fintech that democratises vehicle ownership across Africa. The round was led by global VC, Speedinvest and New York-based Left Lane Capital.
Others include DCM Ventures, Clocktower Technology Ventures, thelatest.ventures, London-based LocalGlobe, California-based Tekton Ventures, New York-based FJ Labs, and New York-based Palm Drive Capital.
The list continues with Singapore-based Roka Works, Dubai-based KAAF Investments, Abu Dhabi-based Spartech Ventures, California-based Class 5 Global, and Victoria van Lennep, co-founder of Lendable.
Africa focused VC Verod Capital Management, Kepple Africa Ventures, and London-based Emso Asset Management  — one of Moove’s existing lenders — joined the round.

Nigeria-based mobility fintech, Moove raises $23 million Series A

While most African digital lenders depend on working capital to fuel growth, MoneyFellows has quietly done what few others have: lend billions of Egyptian pounds with almost no debt or balance sheet exposure.

Now, after raising $13 million in a pre-Series C round led by Casablanca-based Al Mada Ventures and DPI’s Nclude Fund, the Cairo-based fintech says it’s ready to shift from steady growth to regional expansion.

The round, which also drew participation from Partech Africa and CommerzVentures, brings the company’s total funding to just over $60 million.

MoneyFellows raises $13M to take its group savings model outside Egypt

UAE-based automotive data platform AlgoDriven, has raised $2 million in a Series A round led by Global Ventures. Other investors participating in the round included Automotive Ventures, an Atlanta-based venture capital firm – for whom AlgoDriven is its first international investment - Spartech Ventures, otf Wadi, Driven Capital Partners and DTEC Ventures.

Founded in 2017 by Glenn Harwood and Jaron Crossland, AlgoDriven helps car dealerships, finance, and insurance companies, accurately identify, and appraise vehicles. 

Proceeds will be used to expand the company’s reach globally into new regions and increase penetration in existing markets such as the Mena region and Australia. The company’s enterprise product line will continue to be built out for banks, insurance, classifieds, and inspection

AlgoDriven secures $2 million in Series A

INVESTMENT NEWS Egyptian Semiconductor Startup InfiniLink Raises $10M in Seed Funding Apr 03, 2025 MENA ECOSYSTEMS Saudi MSME Loans Jump 27.6% in 2024 to Reach $93.8 Billion Apr 02, 2025 INVESTMENT NEWS Microenterprises Make Up 82% of UAE’s Business Landscape Mar 30, 2025 INVESTMENT NEWS Moroccan Fintech PayTic Raises $4.4M to Scale Banking SaaS Platform Apr 09, 2025 OPPORTUNITIES EGA Launches Third Season of ‘Ramp Up’ for UAE Entrepreneurs Apr 09, 2025 INVESTMENT NEWS Valar Ventures & Saudi’s Sanabil Lead $110M Round for B2B Firm SILQ Apr 09, 2025 MENA ECOSYSTEMS Rabbit Expands to Saudi Arabia With Regional HQ in Riyadh Apr 07, 2025 INVESTMENT NEWS e& Egypt Launches Instant International Money Transfer Service Apr 07, 2025 INVESTMENT NEWS UAE Fintech Fuse Raises $6.6M to Fill MENA’s Cross-Border Payment Gaps Apr 07, 2025 MENA ECOSYSTEMS Central Bank of Oman Mandates IBAN for Domestic Transactions Apr 04, 2025 INVESTMENT NEWS Egyptian Semiconductor Startup InfiniLink Raises $10M in Seed Funding Apr 03, 2025 MENA ECOSYSTEMS Saudi MSME Loans Jump 27.6% in 2024 to Reach $93.8 Billion Apr 02, 2025 INVESTMENT NEWS Microenterprises Make Up 82% of UAE’s Business Landscape Mar 30, 2025 INVESTMENT NEWS Moroccan Fintech PayTic Raises $4.4M to Scale Banking SaaS Platform Apr 09, 2025 OPPORTUNITIES EGA Launches Third Season of ‘Ramp Up’ for UAE Entrepreneurs Apr 09, 2025 INVESTMENT NEWS Valar Ventures & Saudi’s Sanabil Lead $110M Round for B2B Firm SILQ Apr 09, 2025 INVESTMENT NEWS Copied UAE Automotive Data Startup AlgoDriven Scores $2M for Global Expansion The newly acquired funds will be utilised to fuel the company’s global reach and bolster presence in existing markets including MENA and Australia. Startup Scene Oct 11, 2021 UAE-based automotive data platform, AlgoDriven, has secured $2 million in a Series A funding round led by Global Ventures with participation from U.S based Automotive Ventures, Spartech Ventures, otf Wadi, Driven Capital Partners and DTEC Ventures. The newly acquired funds will be utilized to fuel the company’s global reach and bolster presence in existing markets including MENA and Australia. The enterprise line will be further developed for increased functionality for banks, insurance, classifieds, and inspection companies. AlgoDriven’s vehicle data platform is a fully integrated solution of mobile apps, website plugins, enterprise APIs, and financial analytics. Algodriven helps car dealers, classifieds, banks, and insurance companies to correctly identify, and price used cars, EvalExpert, the company’s flagship product, simplifies and expedites the pre-purchase assessment and evaluation process, making for more competitive trade-in deals. Consumers also benefit from the faster and more professional experience curated by AlgoDriven at dealers who use their tools. Glenn Harwood, co-founder at AlgoDriven, commented on this new achievement, “We're excited to be partnering with Global Ventures for the next chapter of our journey. We have seen strong growth in demand for our automotive data and software over the last few years both regionally, and in the international markets we operate in. As trends such as ecommerce and new ownership models continue to transform the automotive industry, we expect demand for our vehicle data, pricing, and appraisal software to continue to increase.” AlgoDriven boasts an impressive portfolio of clients including many of the automotive industry’s leading players including Audi, BMW, Hyundai, Kia, Mercedes-Benz, Nissan, Toyota, and Volkswagen. Today, AlgoDriven’s products are used in over 600 car showrooms across the world in Australia, New Zealand, Malaysia, Singapore, UAE, Oman, Saudi Arabia, Kuwait, Bahrain, Qatar, Iraq, Jordan, Morocco, and Sweden. Previous Article Egyptian Fintech Khazna Chosen for Bill Gates-Funded Accelerator Next Article Egyptian Esports Platform GBarana Raises Six-Figure Pre-Series A Related Articles OPPORTUNITIES Apr 09, 2025 EGA Launches Third Season of ‘Ramp Up’ for UAE Entrepreneurs EGA partners with C3 and Microsoft UAE to offer mentorship and training for sustainable and tech-driven startups. MENA ECOSYSTEMS Apr 07, 2025 Rabbit Expands to Saudi Arabia With Regional HQ in Riyadh The Egyptian quick commerce startup targets 20M deliveries in Saudi Arabia by 2026 through a network of dark stores. Trending This Month Fawry & Contact Partner to Expand Digital Payment Solutions in Egypt Mar 21, 2025 Fluidity 2025 to Connect GCC & African Tech Ecosystems in Dubai Mar 22, 2025 Saudi Nayla Finance Secures $4 Million to Boost Micro-Business Lending Mar 24, 2025 Dubai Fintech Startup YAP Raises $41 Million to Expand Regionally Mar 27, 2025 Join Startup Scene communities on social media Instagram Facebook Youtube Twitter

UAE Automotive Data Startup AlgoDriven Scores $2M for Global Expansion

AlgoDriven successfully raises $2 million in a Series A funding round Subha Bhargavi October 10, 2021 AlgoDriven successfully raises $2 million in a Series A funding round AlgoDriven, a leading Dubai-based automotive data platform, has successfully raised $2 million in a Series A funding round. The round was led by Global Ventures, the Dubai-based international venture capital firm. Other participating investors included Automotive Ventures, an Atlanta-based venture capital firm – for whom AlgoDriven is its first international investment – Spartech Ventures, otf Wadi, Driven Capital Partners and DTEC Ventures. Proceeds will be used to expand the company’s reach globally into new regions and increase penetration in existing markets such as the MENA region and Australia. The company’s enterprise product line will continue to be built out for banks, insurance, classifieds, and inspection companies – to increase functionality. AlgoDriven’s tools already help value assets for loans, insurance policies, price vehicle subscriptions and leases. Glenn Harwood, co-founder at AlgoDriven, commented “We’re excited to be partnering with Global Ventures for the next chapter of our journey. We have seen strong growth in demand for our automotive data and software over the last few years both regionally, and in the international markets we operate in. As trends such as ecommerce and new ownership models continue to transform the automotive industry, we expect demand for our vehicle data, pricing, and appraisal software to continue to increase. “The wealth of experience that Noor, Basil, Simon and the entire team at Global Ventures have in the B2B space made them an excellent choice to partner with as we continue to scale.” Tags: $2 Million, AlgoDriven, Dubai-based automotive data platform, Glenn Harwood, Global Ventures, Series A funding round HAVE YOUR SAY! 0 0 Previous Articlenoon celebrates its Seller Summit UAE in styleNext ArticleMastercard teams up with Female Fusion to unlock opportunities for women entrepreneurs YOU MAY ALSO LIKE PayTic secures $4 million funding led by AfricInvest April 9, 2025 Pakistani fintech Haball secures $52 million to fuel expansion April 9, 2025 UAE-based Rentify secures $500,000 in pre-seed funding April 8, 2025

AlgoDriven successfully raises $2 million in a Series A funding round

AlgoDriven secures Series A to help insurers assess used car prices - FinTech Global
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AlgoDriven secures Series A to help insurers assess used car prices
October 11, 2021
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AlgoDriven, which helps vehicle dealers, insurance firms and lenders to get the accurate prices for cars, has received $2m in its Series A funding round.*
With the capital, AlgoDriven hopes to enter new geographic regions, as well as bolster its position in existing market in MENA and Australia. In addition to this, AlgoDriven is continuing to build tools for banks, insurance, classifieds and inspection companies.
Its technology is used by companies to accurately identify, and price used cars. EvalExpert, its flagship product, streamlines the pre-purchase assessment and evaluation of cars, helping businesses sell more vehicles and consumers have better experiences.
AlgoDriven co-founder Glenn Harwood said, “We’re excited to be partnering with Global Ventures for the next chapter of our journey. We have seen strong growth in demand for our automotive data and software over the last few years both regionally, and in the international markets we operate in. As trends such as ecommerce and new ownership models continue to transform the automotive industry, we expect demand for our vehicle data, pricing, and appraisal software to continue to increase.
“The wealth of experience that Noor, Basil, Simon and the entire team at Global Ventures have in the B2B space made them an excellent choice to partner with as we continue to scale.”
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