MAX operates a full-stack electric mobility and fintech business that supplies electric two- and three-wheelers to commercial drivers—called "Champions"—through a Pay-As-You-Go (PAYGO) financing model. The company combines vehicle sales/financing, battery-swapping stations, and proprietary IoT-enabled fleet management software to monitor vehicle health and driver payments. MAX assembles locally with production capacity of about 3,600 units per month and reports profitability in Nigeria. It is pursuing expansion into Ghana and Cameroon and aims to reach 250,000 drivers by 2027. To fund growth of its capital-intensive fleet and infrastructure, MAX is adopting an asset-backed lending structure and has begun attracting institutional debt such as the $8M facility from Triple Jump, following a prior $24M mixed equity and debt round that included Equitane DMCC and Novastar. The company faces regional competitors like Spiro and Ampersand but emphasizes deep integration of finance, hardware, and software as its differentiator.

Total raised

$70M

Funding rounds

5

Latest round

Debt Financing

Latest activity

May 2026