MAX raises $24 million after hitting profitability in Nigeria

MAX raises $24m to scale electric vehicle financing

Nigerian mobility tech startup Metro Africa Xpress Inc. (MAX) has raised $24 million in a mix of equity and debt as it moves from conventional vehicle financing into electric mobility across West and Central Africa. The equity round drew participation from Equitane DMCC, Novastar, Endeavor Catalyst, and other global investors, alongside asset-backed debt from the Energy Entrepreneurs Growth Fund (EEGF) and development finance partners. Novastar,…

Nigeria’s MAX secures $24 million to scale electric vehicle financing platform - Innovation Village | Technology, Product Reviews, Business

Metro Africa Xpress (MAX), the Lagos‑based mobility financing and technology company, has secured $24 million in a new round of combined equity and debt financing. The raise strengthens MAX’s transition into electric vehicle (EV) financing and clean mobility infrastructure across West and Central Africa, while leveraging its recent achievement of profitability in its core Nigerian market. The latest capital injection comes at a pivotal moment as…

Nigeria's MAX Raises $24 Million to Scale EV Across West and Central Africa

Lagos-based mobility tech firm MAX has secured $24 million in fresh equity and debt to accelerate its pivot toward electric vehicle (EV) financing across West and Central Africa. Why it matters The deal signals a growing investor appetite for African “green mobility” as rising fuel costs and falling battery prices make electric two- and three-wheelers […] The post Nigeria’s MAX Raises $24 Million to Scale EV Across West and Central Africa appear…

MAX Raises USD 24 M To Scale Electric Mobility Financing In Africa

Metro Africa Xpress (MAX) has raised USD 24 M in a mix of equity and debt to scale its electric mobility financing business across West and Central Africa, following a return to profitability in Nigeria. The equity round drew backing from Equitane DMCC, Novastar, and Endeavor Catalyst, alongside asset-backed debt from the Energy Entrepreneurs Growth Fund (EEGF) and other development finance partners. The funding shows investor confidence in MAX’…

MAX raises $24 million after hitting profitability in Nigeria

Metro Africa Xpress (MAX), a Nigerian mobility financing startup, has raised $24 million in an equity and debt funding round as it continues its transition to electric mobility financing in West and Central Africa after hitting profitability in Nigeria.  The equity round saw participation from Equitane DMCC, Novastar, Endeavor Catalyst, and other global investors, alongside asset-backed debt from the Energy Entrepreneurs Growth Fund (EEGF) and a…