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Legend Internet, Spectranet Announce Merger to Boost Nigeria’s Broadband Market FG Targets 70% Digital Literacy, Prioritises Teacher Upskilling Nigeria Leads Africa’s $2.1bn AI Surveillance Spending with $470m Investment — Report Moniepoint Acquires Orda to Tap Africa’s $50bn Restaurant Market CBN Tightens BVN Rules to Curb ₦1.2tn Fraud Risk, Aligns Nigeria with Global Standards Nigeria Pushes Homegrown Technology to Strengthen National Security Nigeria Battles 510,000 Annual TB Cases with Community Action, New Diagnostic Tech PAFON 3.0: Lagos Set for High-Stakes Talks on AI, Trust and Financial Inclusion Tech Firm Donates Smart Boards to Boost Digital Learning in Unity Schools PalmPay Empowers 250 Women Through ‘Purple Woman’ Initiative to Boost Nigeria’s Tech Talent Pipeline Nigeria Targets $200m Tech Investment with New UAE Partnership FG Launches iDICE Startup Bridge to Support 100+ Nigerian Tech Ventures Tech Unite Africa 5.0 to Host Startup World Cup Nigeria, Innovation Awards in Lagos ARCO Partners DJI to Expand Drone Technology and Aerial Security in Nigeria Glo, Samsung Launch Galaxy S26 Series in Nigeria With Exclusive Pre-Order Benefits X Proposes Changes to Blue Checkmark After €120m EU Fine Remita and the Treasury Single Account: Nigeria’s Most Successful Government Technology Project NITDA Targets 37 Innovation Hubs Nationwide for Fifth iHatch Startup Programme Nigeria Seeks Public Input on Proposed Child Online Safety Regulations Experts Call for Stronger Trust and Resilience in Nigeria’s Digital Finance Ecosystem

Startup

23 March

Moniepoint Acquires Orda to Tap Africa’s $50bn Restaurant Market

Nigerian fintech giant Moniepoint Inc. has acquired restaurant technology startup Orda Africa, in a strategic move to expand into Africa’s rapidly growing food service industry, estimated to be worth over ...

18 March

Tech Firm Donates Smart Boards to Boost Digital Learning in Unity Schools

Wowbii Infrastructure, a brand under Equipment Hall Limited, has donated 20 interactive smart boards to the Unity Schools Old Students Association (USOSA) in a move aimed at accelerating digital education ...

17 March

FG Launches iDICE Startup Bridge to Support 100+ Nigerian Tech Ventures

The Nigeria government has unveiled plans to launch the iDICE Startup Bridge, a nationwide initiative aimed at accelerating the growth of the country’s digital and creative economy. Scheduled to kick ...

16 March

Tech Unite Africa 5.0 to Host Startup World Cup Nigeria, Innovation Awards in Lagos

Africa’s technology ecosystem is set for a major gathering as innovators, investors, and industry leaders converge in Lagos for Tech Unite Africa 5.0, a pan-African technology conference scheduled for March ...

Nigeria’s Startup Funding Hits $93.4 Million in October 2025, Surges 130.6% Month-on-Month

28 January

African Startup M&A Hits Record High in 2025 as Deals Jump 72% — SOTIA Report

Merger and acquisition activity in African startups rose 72% in 2025 to a record 67 deals, led by fintech and driven by strategic consolidation, according to TechCabal’s SOTIA report. ...
FG to Launch Two New Startup Funds in 2026 Under iDICE Programme

26 January

Only 5 Companies Captured 43% of African Fintech Funding in 2025 — Briter Report

African fintechs raised $1.4B in 2025, but just 5 companies captured 43% of the funding, highlighting extreme concentration and a struggling early-stage funding ecosystem. ...
Below is a **clean, SEO-optimized, publication-ready version** of your article with a strong headline, structured subheads, and a concise meta description. --- ## **SEO Title:** MAX Raises $24 Million to Scale Electric Mobility and Driver Financing Across Africa ## **Meta Description:** Nigerian mobility startup MAX has secured $24 million in equity and debt funding to expand its electric vehicle fleet, battery-swapping infrastructure, and clean mobility operations across Africa. --- ## **MAX Secures $24 Million to Expand Electric Mobility in Africa** Metro Africa Xpress (MAX), a Nigerian mobility financing startup, has raised **$24 million** in a combined **equity and debt** funding round as it accelerates its transition toward electric and clean mobility solutions. According to a report by TechCabal, the funding round includes equity investments from **Equitane DMCC**, **Novastar**, and **Endeavor Catalyst**, alongside asset-backed debt provided by the **Energy Entrepreneurs Growth Fund (EEGF)** and other development finance partners. --- ## **Funding to Power Electric Vehicles and Clean Energy Infrastructure** MAX said the fresh capital will be used to: * Scale its **electric vehicle (EV) fleet** * Expand **battery-swapping networks** and clean energy infrastructure * Strengthen its **proprietary fleet management and IoT systems** * Support **regional expansion across West and Central Africa** The company added that the funding supports its long-term goal of enabling **250,000 drivers by 2027** and surpassing **$150 million in annual recurring revenue**. --- ## **CEO: Funding Will Accelerate Pan-African Expansion** Commenting on the raise, MAX co-founder and CEO **Adetayo Bamiduro** said the new capital positions the company to scale faster while deepening its clean mobility footprint across the continent. “This capital allows us to scale faster, deepen clean energy infrastructure, and build a truly pan-African mobility platform that expands access, lowers costs, and delivers durable impact,” Bamiduro said. --- ## **MAX Reaches Profitability in Nigeria** MAX also confirmed that it has achieved **profitability in Nigeria**, a significant milestone in a sector where only a small number of mobility and asset-financing companies have demonstrated sustainable unit economics. “Profitability in Nigeria proves that electric mobility in Africa is not a future concept. It is viable, scalable, and investable today,” Bamiduro added. The achievement places MAX among a growing group of African mobility startups showing that clean transport models can succeed despite challenging operating conditions. --- ## **Strong Funding History and Investor Confidence** Before this latest raise, MAX secured **$31 million in Series B funding in 2021**, led by **Lightrock** and **Global Ventures**, to support its Africa-wide expansion and EV infrastructure rollout. The company also extended vehicle financing credit to more than **100,000 drivers** during that phase. Earlier, MAX raised over **$40 million in institutional debt** for driver financing and leveraged bonds and venture capital to scale its asset-financing and mobility operations. --- ## **Electric Mobility Gains Momentum in Africa** The latest funding round reflects growing investor confidence in MAX’s evolution from a traditional vehicle financing company into an **integrated electric mobility platform**. This transition aligns with broader trends across Africa’s transport sector, where **volatile fuel prices** and rising operating costs are making **electric two- and three-wheelers** increasingly attractive for commercial drivers and fleet operators. As Africa’s electric mobility ecosystem continues to mature, MAX is positioning itself at the intersection of **financing, technology, and clean energy-powered transportation**. --- If you want, I can also: * Shorten this for **venture funding trackers** * Localize it for **Nigeria-only or Africa-wide audiences** * Rewrite it for **investor newsletters, LinkedIn, or Google Discover**

19 January

MAX Raises $24 Million to Scale Electric Mobility and Driver Financing Across Africa

Nigerian mobility startup MAX has secured $24 million in equity and debt funding to expand its electric vehicle fleet, battery-swapping infrastructure, and clean mobility operations across Africa. ...

16 January

NESG Outlook: 5 Economic Trends Nigerian Startups Should Prepare for in 2026

Nigeria is entering an economic consolidation phase in 2026, according to NESG. Here are five key trends startups should expect—from inflation and interest rates to FX stability and investor flows. ...
Africa’s Must-Attend Tech & Startup Events — November 2025

16 January

African Startups Raise $3.2bn in 2025 as Venture Funding Rebounds — Report

African startups raised $3.2 billion in venture funding in 2025, marking a strong rebound and the continent’s best funding performance in three years, according to Africa: The Big Deal. ...
Terra Industries Raises $11.75 Million Seed Round to Scale Defence Tech Across Africa

15 January

Terra Industries Raises $11.75 Million Seed Round to Scale Defence Tech Across Africa

African defence startup Terra Industries secures $11.75M from top Silicon Valley investors to expand drone manufacturing, AI security systems, and infrastructure protection. ...
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