Nigeria’s Metro Africa Xpress (MAX), a vehicle subscription platform for low-to-zero emission vehicles, has raised US$31 million in the first close of a Series B funding round, with further closes expected in the next few weeks. Over 17 million trips have been completed on the platform, and the startup is now planning expansion after the first close of its Series B round. “We are enthusiastic about backing MAX and their highly capable management team in further scaling the transformation of African mobility,” he said. Noor Sweid, a general partner at Global Ventures, said her firm had been drawn to both team and product at MAX. We are thrilled to welcome them to the portfolio as our first investment in the African mobility space,” she said.

Source: The North Africa Journal December 21, 2021 00:58 UTC