MAX Secures USD 8 M Debt Funding To Scale Electric Mobility In Africa

Metro Africa Xpress (MAX), an African electric mobility platform that evolved from a now-discontinued bike-hailing operation in Nigeria, has secured USD 8 M in debt funding from Netherlands-based impact investor Triple Jump to scale its clean transport operations.

Founded in 2015 by Adetayo Bamiduro and Chinedu Azodoh, MAX provides electric vehicles, battery-swapping infrastructure, and Pay-As-You-Go (PAYGO) financing for commercial drivers.

Operating across Nigeria, Ghana, and Cameroon, the company is building an integrated ecosystem combining EVs, IoT-enabled fleet management, and embedded finance. The new funding will support fleet expansion, battery swap rollout, and platform development.

Triple Jump’s participation marks one of MAX’s first international institutional debt raises, signalling growing investor confidence in Africa’s e-mobility sector. Verdant IMAP, a pan-African investment bank, acted as the sole financial advisor and arranger on the transaction.