A global mobility fintech startup specializing on democratising access to financial services for mobility entrepreneurs globally, Moove has raised $10 million funding from major venture debt fund Stride Ventures to develop its footprint in India.

The acquired fresh funding will be utilized to uplift the total vehicles in India to over 5,000 and develop into new markets in major cities including Delhi, Pune and Kolkata.

Since launching a year ago, this Gurugram-based Moove has recognized as a strong player in Bengaluru, Mumbai & Hyderabad already.

Established by Binod Mishra in the year 2020, the startup Moove has been renovating the global mobility by entrenching alternative credit-scoring technology onto ride-hailing platforms. This facilitates the company to endorse the loans for consumers who have conventionally faced exclusion from accessing the financial services.

Functioning in 9 markets across Africa, the Middle East, Europe, and Asia, the brand declares to be vehicle supply partner of Uber in EMEA and its largest global fleet partner. At present, more than 30 million trips have been finished in Moove-financed vehicles worldwide.

Speaking to this, Binod Mishra, Regional Managing Director, India and South Asia, Moove says, “Our vehicles have completed over 4.2 million trips, significantly impacting India's mobility sector. With the robust support of Stride Ventures, we stand on the cusp of transforming vehicle ownership nationwide, propelling our mission forward”.

Similarly, Apoorva Sharma, Managing Partner, Stride Ventures “Our alliance with Moove is set to transform vehicle ownership accessibility throughout India, marking a significant leap towards social and economic advancement”.