LAGOS, March 19 (Reuters) - Moove, which was founded in

Nigeria and provides revenue-based vehicle financing, said on

Tuesday it had raised $100 million in a latest funding round,

valuing the company at $750 million.

Launched in 2020, Moove uses a credit scoring system to

provide vehicle financing to customers to purchase new vehicles

for ride hailing, logistics and deliveries using a percentage of

their weekly revenue.

The Series B funding was backed by Uber ( UBER ) and existing

investors like Mubadala, which backed Moove in last year's

round.

With the latest financing, United Arab

Emirates-headquartered Moove will expand its vehicle financing

offering to 16 markets globally by the end of 2025, the company

said in a statement.

Ladi Delano, who founded Moove, said with the latest funding

the startup would bring 45,000 new vehicles to its platform.

"This funding milestone not only expands our operational

capacity but also supports our drive to profitability by the

next financial year," said Delano

"This validation from Uber ( UBER ) and others stands as a testament

to the fact that what was once a dream is now a palpable

reality."

Since its launch, Moove has raised a total of $250 million

in equity funding while $210 million has come from debt funding.