American ride-hailing giant Uber Technologies is preparing to invest $100 million in the African vehicle financing start-up Moove.

Moove Africa continues to raise funds and strengthen its operations in Africa. It is present in six markets in sub-Saharan Africa. The company is in pre-contractual discussions with Uber for a new investment that could propel it even further. For this reason, VTC Uber Technologies is preparing to invest the sum of $100 million in the African vehicle financing start-up Moove as part of a new funding round. The American ride-sharing company is expected to join a group of investors as part of this fundraiser. This will bring the value of the Moove business to around $750 million, up from $650 million currently