Meet Ladi Delano and Jide Odunsi, founders of Uber-backed Moove

Ladi Delano and Jide Odunsi are the founders of Moove, the Uber-backed Nigerian mobility fintech startup that recently expanded to Brazil with the acquisition of Kovi, a car rental startup.

Delano and Odunsi, both based in the United Kingdom, are Nigerian entrepreneurs with academic backgrounds from the London School of Economics (LSE), Oxford University, and the Massachusetts Institute of Technology (MIT).

Both founder’s professional experiences have influenced their approach to business. Delano was an entrepreneur, and Odunsi was a former investment banker at Goldman Sachs and a management consultant at McKinsey.

Their decision to establish Moove was driven by the gap in Africa’s automotive industry. The demand for vehicles exceeds local production, leading many to rely on imported used cars, often in poor condition.

Regulatory policies in countries like Nigeria that aim to boost local manufacturing by limiting car imports have further constrained access.

Built in 2020, Moove enables drivers to access vehicles through financing options. The startup’s model allows users to secure loans via its app, with repayment structured over 30, 36, or 48 months in weekly installments.

Since its inception, Moove-financed cars have completed over 2.6 million trips, covering more than 30 million kilometres across six African markets: Lagos, Accra, Johannesburg, Cape Town, Nairobi, and Ibadan. The company has expanded beyond Africa, operating in 19 cities across five continents.

As part of its expansion, Moove applies artificial intelligence (AI) to fleet management and ride-hailing services. The recent acquisition of Kovi in Brazil, (Latin America’s largest ride-hailing market) supports Moove’s international growth strategy and its focus on mobility financing.

Odunsi holds a BSc in Economics (First Class Honours) from the London School of Economics, an MBA from MIT Sloan School of Management, and an MSc in Sustainable Urban Development from Oxford. His economics and urban development background has influenced Moove’s expansion strategy and approach to mobility challenges.

Delano has experience in multiple business sectors. In 2004, he founded Solidarnosc Asia, a Chinese alcoholic beverage company that produced Solid XS vodka. After selling the company for over $15 million, he invested in a real estate firm focused on mainland China. In 2012, Forbes recognised him as a young entrepreneur to watch in Africa.

He later co-founded Bakrie Delano Africa, a $1-billion joint venture with Indonesia’s Bakrie Group, before shifting focus to transportation and establishing Moove. Since its launch, the startup has expanded to nine markets in Sub-Saharan Africa and India, raising approximately $190 million in funding.

Moove provides vehicle financing for gig workers in the ride-hailing, logistics, and instant delivery sectors, which includes approximately 4.5 million people in the UK.

Delano and Odunsi’s business approach has positioned Moove as a company addressing mobility financing issues. As the company continues to expand and develop its AI-driven fleet management, it remains focused on the mobility sector in Africa and beyond.