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E-Business

Moove Secures USD $100 Million Series B Round

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Moove, the global mobility fintech that democratises access to vehicle ownership for mobility entrepreneurs, today announces that it has raised $100 million in a Series B funding round, valuing the company at $750M. Uber invested in the round alongside Mubadala, who led Moove’s previous funding round in 2023.

The round will enable Moove to expand its customer focused revenue-based vehicle financing offering to 16 markets around the world by the end of 2025.

A considerable portion of this expansion will focus on electric vehicles (EVs), which will lay the groundwork for a more sustainable and accessible mobility ecosystem for its customers worldwide.

Ladi Delano, Founder of Moove, said: “Today’s announcement marks a significant milestone for us. When we founded Moove in 2020, we were motivated to solve the acute shortage of vehicle financing that over two million African mobility entrepreneurs faced.

“This validation from Uber and others stands as a testament to the fact that what was once a dream is now a palpable reality. This infusion of capital is set to amplify the immensely positive impact our products have in the lives of our customers on a much broader spectrum.

“I would like to extend my heartfelt gratitude to our dedicated team of Moovers for their relentless effort and commitment, which has been pivotal in reaching this significant milestone on our company’s journey.”

Moove was founded in 2020 to connect mobility entrepreneurs with fair, accessible, and affordable revenue-based vehicle financing options.

Now based in its new headquarters in the UAE, an emerging nexus for entrepreneurship and innovative startups, the evolving partnership between Moove and Mubadala stands as a prime example of how collaboration between local UAE investors and startups can catalyse growth and innovation both within the UAE and globally.

The UAE stands as a pivotal market for Moove, as it was the first market where Moove launched its fully integrated charging solution, investing in a network of charging stations exclusively for Moove customers.

Additionally, the UAE was Moove’s pioneer market for transitioning to a 100% EV fleet, leading to the Company providing the largest number of EV trips on the Uber UAE platform in 2023.

This strategic focus on sustainability and innovation underscores Moove’s commitment to shaping the future of mobility in the region and supporting the UAE’s vision for economic diversification and technological advancement.

To date, Moove has helped more than 20,000 mobility entrepreneurs across three continents, enabling more than 30 million Moove financed trips to date – resulting in an annual recurring revenue of over $115 million, a significant milestone on the path to profitability.

Ali Eid Al Mheiri, Executive Director of UAE Diversified Assets at Mubadala’s UAE Investments Platform, commented: “We are proud to continue supporting Moove through our second round of funding, not only as a testament to our commitment to nurturing the startup ecosystem in the UAE but also as a reflection of our renewed trust in Moove’s vision and capabilities. This follow-on investment exemplifies Mubadala’s strategy of deploying capital to drive positive change in communities, in addition to fostering innovation and entrepreneurship across the UAE.”

Ladi Delano concluded: “This recent investment is a game-changer for Moove, enabling us to substantially broaden our offerings by introducing 45,000 new vehicles to our platform. This funding milestone not only expands our operational capacity but also supports our drive to profitability by the next financial year.

“We are committed to building Moove in a sustainable, customer focused and profitable way. Moove’s aim is to be at the forefront of the electrification of mobility, which we believe will help steer the world towards a zero-emission future..”


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E-Business

Domain of Deception as Attackers Deploy Spyware Under Guise of Legal Threats

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Kaspersky has detected a rapidly escalating malicious campaign that has targeted over 1,100 corporate users since June 2025. The attackers pose as a legal firm and in their emails threaten recipients with lawsuits over alleged domain name patent violations, aiming to deploy malware.

Victims who opened and launched the attached files – that mimicked legal documents – had a Trojan installed on their devices, and the attackers could spy on the content of their screens. Organisations across healthcare, finance, and education sectors have been targeted.

The campaign began with 95 emails on June 11 and has since continued to escalate. Apart from claiming that the recipient’s domain name violates patented combinations of a major brand and threatening litigation, in the email the fake legal bureau also expresses the patent holders’ interest in acquiring the domain and offers getting acquainted with the details of the alleged violations by opening the attached archive with “documents”.

It is worth noting that the attackers, likely to avoid detection, attach an archive that is not password protected, and inside it includes another archive that is password protected and a file containing the password along with it.

After the user entered the archive password and clicked on the alleged legal document inside, a Trojan was installed on the device. The user saw a message displayed that read, “This document cannot be opened on this device. Try opening it on another windows device,” and simultaneously the Tor Browser was covertly downloaded and installed in the background.

Through it, the malware regularly sent snapshots of the user’s screen to the attackers over the Tor network. The malware also autostarts whenever the computer is restarted.

“This campaign is a sophisticated blend of psychological manipulation and technical deception, leveraging fear of legal action to coerce businesses into executing harmful files hidden in attached archives. Its rapid growth since June 11 underscores the urgency for organisations to bolster defenses.

Victims face the risk of losing their private data. Robust email security, employee training, and swift incident reporting are essential to counter this evolving threat,” comments Anna Lazaricheva, spam analyst at Kaspersky.

 


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E-Business

Global Crypto Heists Surge to $2.1Bn in H1 2025 as Digital Assets is Weaponised

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In a sobering revelation of the evolving threat landscape facing the digital asset ecosystem, blockchain intelligence firm TRM Labs has disclosed that over $2.1 billion worth of cryptocurrency was stolen in the first half of 2025 alone, spanning at least 75 high-profile hacks and exploits.

Global Crypto Heists Surge to $2.1Bn in H1 2025 as Digital Assets is Weaponised

This staggering figure marks a 10 per cent surge over the previous first-half record set in 2022 and nearly eclipses the total stolen in all of 2024.

But beyond the monetary scale, the report reveals a deeper concern: a growing trend of state-sponsored cyber aggression weaponising  crypto assets for strategic and geopolitical purposes.

The most devastating breach to date occurred in February when Dubai-based exchange Bybit lost $1.5 billion—the largest  crypto heist in history.

TRM Labs attributes the attack to North Korean state actors, noting that the incident alone accounted for nearly 70 percent of total losses during the period and doubled the average hack size to $30 million.

“The Bybit hack redefined the threat landscape,” the report stated.

“It exemplifies how digital asset theft has transcended criminal opportunism and morphed into a tool of statecraft.”

Indeed, North Korea-linked entities were responsible for an estimated $1.6 billion of the total stolen, further entrenching Pyongyang’s status as the most prolific nation-state threat actor in the crypto sphere.

Yet the menace is diversifying. On June 18, Iranian crypto exchange Nobitex was breached for over $90 million by a group reportedly linked to Israel, Gonjeshke Darande (Predatory Sparrow).

Unusually, the stolen funds were routed to unusable vanity addresses, underscoring symbolic and political motives rather than financial gain.

TRM Labs flagged this as a “disturbing shift,” with digital asset theft increasingly deployed as a weapon in asymmetric geopolitical conflict.

The report also found that more than 80 percent of losses stemmed from infrastructure breaches, including private key theft, seed phrase leaks, and front-end compromises— attacks typically ten times costlier than other vectors.

Meanwhile, DeFi exploits such as flash loan manipulations accounted for 12 percent of losses, reflecting persistent smart contract vulnerabilities despite years of scrutiny.

As digital currencies become enmeshed in global rivalries, TRM Labs warns that conventional cybersecurity approaches are now inadequate.

“Massive breaches, often tied to nation-state operations, require a new defence paradigm,” the firm asserted, urging industrywide adoption of advanced safeguards and cross-border collaboration among regulators and law enforcement.


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CAC Launches AI-powered Business Registration Portal

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Corporate Affairs Commission (CAC) has inaugurated the pilot take-off of its new Artificial Intelligence (AI)-powered registration portal.

CAC Launches AI-powered Business Registration Portal

A statement issued by the commission explained that Malam Hussaini Magaji, registrar-general of the CAC, made the announcement during the 2025 Stakeholders Forum in Port Harcourt.

According to him, “the initiative is a major milestone in Nigeria’s business facilitation drive.”

The Registrar further explained that the upgraded portal marks a complete overhaul of the Company Registration Portal (CRP), saying that it comes with advanced features designed to simplify and speed up business registration.

The new system, according to him, allows for instant name reservation approvals, likening the ease to creating an email account, and stressing that the AI-powered platform could suggest available alternatives to business names and approve them immediately.

Another innovation, he stated, is the ability to register a business using only the National Identification Number (NIN) of a director or proprietor, pointing out that there is an ambitious target of completing business registration and certificate generation within 30 minutes, subject to real-time NIN validation.


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