Mobility Fintech, Moove, Raises $30mln from Debut Sukuk for UAE Expansion.

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In order to fund the construction of the largest EV ride-hailing fleet in the MENA region, Moove, the first mobility fintech in the world and Uber’s largest vehicle supply partner in EMEA, is raising $30 million from a debut sukuk issuance arranged by Franklin Templeton Investments Ltd.

In order to accelerate the electrification of mobility and improve the ride-hailing passenger experience in the region, Moove will use the funds to scale to 2,000 EVs in the UAE over the next year. To help cities like Dubai reach their ambitious Net Zero targets, Moove predicts that this fleet of EVs will reduce carbon dioxide emissions by over 5,000 metric tons per annum.

In conjunction with its debut in the UAE, Moove will  be rolling out its EV charging app, Moove Charge. Having initially launched in London in August, Moove Charge is the first end-to-end charge experience and complete EV charging network app specifically for ride-hailing drivers.


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