HomeBrazilMoove Acquires Kovi 

Moove Acquires Kovi 

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Moove

Moove, an Amsterdam, the Netherlands-based company developing technologies empowering mobility platforms, announced the acquisition of Kovi, a São Paulo, Brazil-based urban mobility provider.

The amount of the deal, whose completion is subject to customary closing conditions, including approval from the Brazilian antitrust authority, was not disclosed.

The acquisition will increase Moove’s total global fleet to 36,000 vehicles and operations to 19 cities across 6 continents. It not only will consolidate the company’s position as a rideshare fleet operator, but will incorporate Kovi’s proprietary IoT software and advanced driver behaviour algorithm, which complement Moove’s existing focus on safety and efficiency. The acquisition strengthens the company’s ARR revenue to upwards of $275M (on a consolidated basis). 

Founded in 2018 and led by CEO Adhemar Milani Neto, Kovi is a developer of technology and financial solutions whose approach to driver support and its presence in Brazil bring value to Moove’s global operations, strengthening its ability to expand into high growth markets and drive impactful change in mobility. 

The company has presence in Brazil and Mexico.

Launched in 2020, Moove is an African-born, global mobility fintech that provides revenue-based vehicle financing and financial services to mobility entrepreneurs across ride-hailing, logistics, mass transit, and instant delivery platforms. Its flagship Drive-to-Own (DTO) product gives users access to vehicle ownership with a new revenue based financing model, enabling underserved mobility entrepreneurs to grow. Moove’s presence now spans 19 cities across 6 continents.

FinSMEs

29/01/2025

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