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Moove bolsters LatAm presence with acquisition of Kovi

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Deal expands Moove's fleet to 36,000 vehicles, strengthens Latin American presence, and integrates cutting-edge IoT and AI technologies to drive innovation in urban mobility.
Moove, a Nigerian mobility fintech startup, has expanded its presence in Latin America by acquiring Kovi, a Brazilian car subscription service. This acquisition, announced on June 12, 2023, aims to enhance Moove's market position in Brazil, where it already operates in São Paulo and plans to expand to Rio de Janeiro. Kovi, known for its innovative subscription model that allows customers to use cars without long-term commitments, will now integrate with Moove's operations, potentially benefiting from Moove's established network and technology. The financial details of the deal were not disclosed, but this move is part of Moove's broader strategy to grow its vehicle fleet and customer base in the region, leveraging Kovi's existing infrastructure and customer relationships.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/general/moove-bolsters-latam-presence-with-acquisition-of-kovi/ar-AA1ycsax ]