MAX Secured Series B3 Funding for Electric Mobility
The company raised $29 million to expand its electric vehicle subscription model across West and Central Africa.
Updated on Oct. 14, 2026 in Electric Vehicles
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MAX has secured an undisclosed investment from Nithio, bringing the total value of its Series B3 funding round to $29 million. The company provides electric vehicles to commercial operators through a model that combines financing, battery swapping, and fleet technology.
Why it matters
This capital injection will support the continued expansion of clean mobility infrastructure in West and Central Africa. The funding aims to accelerate the adoption of sustainable transport solutions for thousands of commercial operators in the region.
MAX has facilitated over one billion trips and served more than 60,000 commercial transport operators across 20 cities. The company has successfully helped avoid 238,000 tonnes of greenhouse gas emissions through its electric vehicle initiatives.
The players
MAX
An electric mobility company founded in 2015 that provides vehicle subscriptions and charging infrastructure to commercial transport operators.
Nithio
A finance organization that provided an undisclosed investment to support the expansion of clean mobility solutions.
The details
The platform provides electric vehicles via a subscription model that integrates battery-swapping infrastructure and digital fleet management tools. This approach is designed to lower barriers for drivers while expanding the company reach across Nigeria, Ghana, and Cameroon.
Timeline
MAX was founded in 2015.
The company raised $24 million in a funding round in January 2026.
MAX secured the Series B3 investment on October 14, 2026.
The company set growth targets for 2027.
Roadmap
This investment highlights the rapid growth of the electric vehicle subscription model within emerging markets as a primary solution for commercial transport. The move positions MAX to compete more aggressively in the transition away from internal combustion engines in Africa.
Commercial transport operators in Nigeria, Ghana, and Cameroon can expect expanded access to electric vehicle subscriptions and charging infrastructure. These developments aim to improve fleet reliability and reduce operational costs for drivers in the region.
The takeaway
The firm is scaling rapidly by combining vehicle financing with a proprietary battery-swapping network to overcome typical infrastructure hurdles. Drivers looking to modernize their fleets should monitor the company expansion plans in their respective cities.
What happens next
The company has set specific performance goals to reach 250,000 drivers and more than $150 million in annual recurring revenue by 2027.
Further reading
For more information on the evolving landscape of sustainable transport, visit our Electric Vehicles section.
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