MAX Secures Fresh Nithio Funding to Drive Nigeria’s Electric Transport Revolution

Nigerian electric mobility company Metro Africa Xpress (MAX) has secured fresh financing from climate investment firm Nithio, strengthening its plans to expand electric transportation and create more opportunities for commercial drivers across Africa.

The investment has extended MAX’s Series B3 funding round to $29 million, although Nithio has not disclosed the exact amount of its contribution. The development was announced in October 2026 and highlights growing investor interest in businesses combining climate solutions with economic opportunities.

Founded in 2015 and headquartered in Lagos, MAX is building an integrated electric mobility platform designed to make transportation cleaner, more affordable and accessible. Its operations combine electric motorcycles, battery subscriptions, solar-powered charging and battery-swapping stations, digital payments and vehicle financing.

The company works with commercial transport operators, known as MAX Champions, providing access to electric motorcycles through daily subscription payments without requiring drivers to purchase vehicles outright.

For drivers, the model could make a significant difference. Petrol prices, vehicle maintenance and financing costs can take a substantial portion of daily earnings. Electric motorcycles offer an alternative, while battery-swapping stations allow riders to exchange depleted batteries for charged ones instead of waiting for lengthy charging sessions.

According to MAX, its electric solutions can reduce drivers’ energy and maintenance expenses by more than 40 per cent compared with petrol-powered alternatives at current Nigerian fuel prices.

The company says it has supported more than 60,000 drivers and facilitated over one billion trips across 20 cities in Nigeria, Ghana and Cameroon.

The new financing will support the deployment of additional electric two-wheelers through vehicle partners, including Spiro and NOVR, while expanding solar-powered charging and battery-swapping infrastructure into existing and new markets.

Beyond individual drivers, the investment matters for Nigeria's clean transport ambitions. Replacing petrol-powered motorcycles with electric alternatives could help reduce transport-related emissions, limit exposure to fuel price fluctuations and encourage investment in renewable energy infrastructure.

MAX's expansion also demonstrates how climate financing can support businesses that deliver practical economic benefits rather than focusing on environmental targets alone.

The challenge will be ensuring that more drivers can access affordable electric vehicles and reliable battery-swapping facilities. If MAX succeeds, cleaner transport could become not just an environmental choice, but a more profitable way for thousands of African drivers to earn a living.