Nigerian EV startup MAX raises $29M in Series B3 funding led by climate finance firm Nithio to expand electric mobility across West and Central Africa.
Amount Raised
$5 Million
Round Type
Series B
LagosEnergyTransportationAutomotiveInvestors
Description
MAX, a Lagos-based electric mobility company, has closed its Series B3 funding round at $29 million, with new investment from U.S. climate finance firm Nithio. The round tops up a $24 million equity and debt round announced in January, with new money accounting for approximately $5 million. Funds will support vehicle financing, battery swapping, and clean transport services across West and Central Africa
Quick answer
MAX raised $5 Million in a Series B round, dated October 15, 2026. Investors: Nithio. MAX is based in Lagos, Lagos State, Nigeria.
- How much did MAX raise?
- MAX raised $5 Million in a Series B round on October 15, 2026.
- Who invested in MAX?
- Nithio is named as investors in this round.
- What does MAX do?
- Metro Africa Xpress (MAX) is a mobility financing company based in Nigeria that is transitioning towards electric mobility financing across West and Central Africa.
- Where is MAX based and how big is it?
- MAX is based in Lagos, Lagos State, Nigeria. Fundz records about 501 employees.
- Who are the decision-makers at MAX?
- Fundz holds 1 contact at MAX. Names and contact details are shown to Fundz members.
Source: Fundz verified event record.
Who else raised in Energy and Transportation around the same time
Companies in the same sectors as MAX that raised within 45 days of this round, from Fundz verified event records.
- Lucid Group raised $400M (Debt Financing) on October 9, 2026.
- ZoomCar raised $75K (Series A) on October 29, 2026.
- Konwert India Motors raised an undisclosed amount (Pre-Series A) on October 23, 2026.
- Neolithic raised $400M (Series E) on October 20, 2026.
- Hertz Global Holdings raised $81M (Funding Round) on October 16, 2026.
- Bisedge raised $11M (Debt Financing) on October 15, 2026.
Who to call at MAX, and when
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- The decision-makers there, with verified emails
- Who you already know at MAX, from your own LinkedIn network
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