Uber-backed mobility fintech Moove acquires Brazil’s Kovi, takes ARR to $275M
- Moove acquires Kovi, a Brazilian urban mobility provider.
- The acquisition is an all-share transaction, with Kovi now wholly owned by Moove.
- Moove's annual revenue increases to $275 million post-acquisition.
The acquisition of Kovi by Moove represents a strategic move that not only enhances Moove's market position in Latin America but also aligns with its long-term vision of becoming a leader in the global ride-hailing market. This partnership could potentially lead to innovative solutions in vehicle financing and mobility services, making it a topic worth exploring further in terms of market impact and technological advancements.
