02:10 PM EDT, 07/02/2025 (MT Newswires) -- Uber Technologies ( UBER ) backed startup Moove is close to raising $1.20 billion in a debt round which would fund the US rollout and expansion of an autonomous-driving fleet with Alphabet's (GOOG) Waymo, Bloomberg reported Wednesday, citing people familiar with the matter.

The debt raising has been oversubscribed with several private credit firms and banks showing interest, and will be finalized in the coming weeks, Bloomberg said.

The African ride-hailing startup Moove, which operates in more than a dozen markets, including the United Arab Emirates, Mexico and India, has set sights to start its first autonomous fleet in the US, which it will own and manage, Bloomberg reported.

Moove signed a fleet partnership with Waymo in December 2024, under which Moove would manage fleet operations, while Waymo would operate its self-driving technology.

Moove and Uber ( UBER ) didn't immediately reply to a request for comment from MT Newswires, while Waymo declined to comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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