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Metro Africa Xpress (MAX), Africa’s electric mobility platform, has raised $8 million in debt funding from Triple Jump, a Netherlands-based impact investment manager. The funding will be used to accelerate the expansion of its clean transportation operations across the continent.
Pan-African investment bank Verdant IMAP acted as sole financial advisor and arranger on the deal.
Triple Jump, which has a strong track record of financing inclusive financial institutions and clean energy businesses across emerging markets, represents one of MAX’s first international institutional lenders. Its participation also signals confidence in MAX’s operating model, asset-backed lending structure, and the long-term scalability of Africa’s evolving mobility sector.
The debt funding will be used across three main areas: support the expansion of MAX’s electric vehicle fleet, the rollout of battery swap infrastructure, and the continued development of its Pay-As-You-Go (PAYGO) financing platform.
Founded in 2015 by Adetayo Bamiduro, MAX is a technology-driven company solving Africa’s mobility challenges. Its mission is to make mobility “safe, affordable, accessible, and sustainable.” The company operates a rent-to-own platform that connects drivers to vehicles, including electric vehicles, providing comprehensive services for drivers to earn and stay safe on the job. In addition to the mobility service, the company has also expanded to offer enterprise and regulatory technology solutions.
With Nigeria as its core market, the company also operates across Ghana and Cameroon through an integrated ecosystem comprising purpose-built EVs adapted for local conditions, battery swapping infrastructure to address charging constraints, IoT-enabled fleet management systems, and embedded financing solutions for underserved drivers.
On its website, MAX claims its platform has empowered more than 52,000 commercial drivers, facilitated over 653 million trips, and helped save more than 750,000 metric tons of CO2 emissions. Drivers on the platform earn up to $12 daily, which is 65% higher than what they would earn in the informal sector, rising to $15 per day upon full vehicle ownership.
The company had raised $24 million in funding during the first quarter of 2026, and its total funding to date is $39.6 million. Its investors include Techstars, Venture Garden Group, Lightrock, Novastar Ventures, Yamaha, Mastercard, Goodwell Investments, Alitheia Capital, and Breakthrough Energy.
The raise comes at a time when African startups are increasingly turning to debt financing to fund asset expansion without diluting equity. With Triple Jump, the company can showcase its ability to attract institutional debt capital from international lenders, a critical step especially in the asset-heavy mobility business.
The investment will help MAX deepen its reach among commercial drivers, referred to as “Champions” internally, and lower the cost and barriers to vehicle ownership. Verdant IMAP, which supported the structuring, investor engagement, and execution of the deal, said the transaction establishes a foundation for further institutional capital deployment into the business.
