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Moove Acquires Kovi, Strengthening its Position as a Global Leader in Mobility
The acquisition increases Moove's total global fleet to 36,000 vehicles and operations to 19 cities across 6 continents. It not only strengthens the company's position as one of the world's largest rideshare fleet operators, but incorporates Kovi's proprietary IoT software and advanced driver behaviour algorithm, which complement Moove's existing focus on safety and efficiency. These innovations will strengthen Moove's AI mobility strategy, further advancing its position as a global leader in mobility and autonomous vehicle innovation, while also reinforcing its commitment to driving economic growth in Latin America.
Founded in 2018, Kovi has established itself as a pioneering force in making car ownership more accessible and efficient through innovative technology and financial solutions. With a robust fleet and a strong presence in Brazil and Mexico , Kovi has demonstrated impressive growth since inception. Its innovative approach to driver support and its strong foothold in Brazil bring significant value to Moove's global operations, strengthening its ability to expand into high growth markets and drive impactful change in mobility.
Kovi's data-driven approach to vehicle management and user experience will complement Moove's existing capabilities, enabling the company to offer superior services to its customers.
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The completion of the transaction is subject to customary closing conditions, including approval from the Brazilian antitrust authority.
Moove is building the world's largest fleet and best-in-class technologies that power mobility platforms. Its flagship Drive-to-Own (DTO) product democratises access to vehicle ownership with a revolutionary revenue based financing model, enabling underserved mobility entrepreneurs to thrive.
Moove's growth has been fuelled by its global Uber partnership and support of leading investors and lenders, including Uber, Mubadala, BlackRock, MUFG, and many others. With operations now spanning 19 cities across 6 continents -
Africa , Asia ,
Europe , North America ,
South America , and the
Middle East - Moove continues to expand its offerings through strategic acquisitions and partnerships with industry leaders, including Waymo and Uber. Moove is transforming mobility to make it safer, more efficient and accessible to all, while providing economic opportunities and supporting skills development in the mobility sector.
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