Nigerian mobility player MAX raises $24 million to scale electric vehicle financing
- MAX raised $24 million in a mix of equity and debt to enhance its electric mobility focus.
- The funding round included participation from Equitane DMCC, Novastar, and Endeavor Catalyst.
- MAX aims to support 250,000 drivers by 2027 and achieve over $150 million in annual recurring revenue.
The shift towards electric mobility by MAX is a strategic move that aligns with global trends in sustainable transportation. However, the success of this transition will depend on the company's ability to scale its operations and infrastructure effectively in a competitive market.
