Grace Ashiru
Metro Africa Xpress (MAX), Africa’s leading electric mobility platform, has secured USD 8 million in debt funding from Triple Jump, marking a key milestone in scaling its clean mobility operations.
Triple Jump, a Netherlands-based impact investment manager with 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 underscores confidence in MAX’s operating model, asset-backed lending structure, and long-term scalability within Africa’s evolving mobility sector.
The funding will support:
- Expansion of MAX’s electric vehicle (EV) fleet
- Rollout of battery swap infrastructure
- Continued development of its Pay-As-You-Go (PAYGO) financing platform
MAX’s model is designed to lower barriers to asset ownership for commercial drivers (“Champions”), enabling income generation through access to productive mobility assets while reducing operating costs relative to internal combustion alternatives.
Operating across Nigeria, Ghana, and Cameroon, with Nigeria as its core market, MAX is building an integrated ecosystem comprising:
- Purpose-built EVs adapted for local conditions
- Battery swapping infrastructure to address charging constraints
- IoT-enabled fleet management systems
- Embedded financing solutions for underserved drivers
Verdant IMAP acted as sole financial advisor and arranger on the transaction, supporting structuring, investor engagement, and execution. The transaction establishes a foundation for further institutional capital deployment into the business.
