Nigerian Mobility Startup MAX Raises Series B3 Funding to $29M

What changed

Nigerian electric-mobility startup MAX has increased its Series B3 funding to $29 million, with US climate fintech Nithio joining the round.

MAX says it will use the money to expand electric-vehicle financing, battery swapping and clean-mobility services across West and Central Africa.

Why it matters

This is a bet on the infrastructure around electric vehicles, not just the vehicles themselves. Financing can help customers access them; battery swapping can address the need to keep them moving without waiting for a full recharge.

The important test now is execution. The funding stage and total are clear, but the report does not say how much Nithio invested, which other investors participated, when the money will be deployed or which countries MAX will enter first. Those details will determine whether the $29 million becomes a broad regional rollout or a more limited expansion.