• Guest Post   |
  • Submit App Review   |
  • Submit PR   |
  • Advertise   |
  • Contact Us
  • Login
No Result
View All Result
Advertisement
Mobile App Development | Design | Marketing Magazine: Appedus
Subscribe
  • Home
  • App Development
  • App Marketing
    • All
    • App Onboarding
    • App Store Optimisation
    • App User Engagement
    • Push Notifications
    How to market a mobile app

    6 ways to market a mobile app

    Latest mobile app trends

    6 Latest mobile app trends

    5-Ways-To-Promote-Your-Mobile-App-In-A-Smarter-Way-scaled-appedus

    5 Ways To Promote Your Mobile App In A Smarter Way

    Get-Your-App-The-Most-Downloads-On-The-Apple-App-Store-Appedus

    How To Get Your App The Most Downloads On The Apple App Store

    Trending Tags

      • App Store Optimisation
      • App User Engagement
      • App Push Notifications
      • App Onboarding
      • App Analytics
    • App Design
    • App Reviews
      • All
      • Books & Reference
      • Business
      • Dating
      • Education
      • Finance
      • Fitness
      • Food & Drink
      • Health
      • iOS apps
      • Lifestyle
      • Medical
      • Photography
      • Productivity
      • Shopping
      • Social
      • Travel
      • Utilities
      • Video Editing
      6-iOS-Productivity-Apps-I-Cant-Live-Without-appedus

      6 Best iOS Productivity Apps You Can’t Live Without

      7-Reasons-Why-Every-Business-Should-Be-Mobile-Friendly-appedus

      7 Reasons Why Every Business Should Be Mobile-Friendly

      The-top-ten-mobile-apps-all-travellers-should-use-appedus

      The top ten mobile apps all travelers should use

      5-Ways-To-Promote-Your-Mobile-App-In-A-Smarter-Way-scaled-appedus

      5 Ways To Promote Your Mobile App In A Smarter Way

      What-To-Do-If-Your-Cell-Phone-Is-Lost-or-Stolen-appedus

      What To Do If Your Cell Phone Is Lost or Stolen

      Free-Android-Meme-Maker-Appedus

      5 Best Free Android Meme Maker

      Zerodha Kite App Review

      Zerodha Kite App Review: A great way to start investing

      Crello App Review

      Crello App Review 2022 | An Attractive Editing Tool

      8fit App Review

      8fit App Review 2022 | Workouts and Meal Planner

      Trending Tags

      • Travel
      • fitness
      • Video Editing app
      • Utilities
      • Lifestyle
      • Medical
      • Photography
      • Productivity
      • Shopping
      • Social
      • Travel
    • App Events
    • Exclusive
    • Home
    • App Development
    • App Marketing
      • All
      • App Onboarding
      • App Store Optimisation
      • App User Engagement
      • Push Notifications
      How to market a mobile app

      6 ways to market a mobile app

      Latest mobile app trends

      6 Latest mobile app trends

      5-Ways-To-Promote-Your-Mobile-App-In-A-Smarter-Way-scaled-appedus

      5 Ways To Promote Your Mobile App In A Smarter Way

      Get-Your-App-The-Most-Downloads-On-The-Apple-App-Store-Appedus

      How To Get Your App The Most Downloads On The Apple App Store

      Trending Tags

        • App Store Optimisation
        • App User Engagement
        • App Push Notifications
        • App Onboarding
        • App Analytics
      • App Design
      • App Reviews
        • All
        • Books & Reference
        • Business
        • Dating
        • Education
        • Finance
        • Fitness
        • Food & Drink
        • Health
        • iOS apps
        • Lifestyle
        • Medical
        • Photography
        • Productivity
        • Shopping
        • Social
        • Travel
        • Utilities
        • Video Editing
        6-iOS-Productivity-Apps-I-Cant-Live-Without-appedus

        6 Best iOS Productivity Apps You Can’t Live Without

        7-Reasons-Why-Every-Business-Should-Be-Mobile-Friendly-appedus

        7 Reasons Why Every Business Should Be Mobile-Friendly

        The-top-ten-mobile-apps-all-travellers-should-use-appedus

        The top ten mobile apps all travelers should use

        5-Ways-To-Promote-Your-Mobile-App-In-A-Smarter-Way-scaled-appedus

        5 Ways To Promote Your Mobile App In A Smarter Way

        What-To-Do-If-Your-Cell-Phone-Is-Lost-or-Stolen-appedus

        What To Do If Your Cell Phone Is Lost or Stolen

        Free-Android-Meme-Maker-Appedus

        5 Best Free Android Meme Maker

        Zerodha Kite App Review

        Zerodha Kite App Review: A great way to start investing

        Crello App Review

        Crello App Review 2022 | An Attractive Editing Tool

        8fit App Review

        8fit App Review 2022 | Workouts and Meal Planner

        Trending Tags

        • Travel
        • fitness
        • Video Editing app
        • Utilities
        • Lifestyle
        • Medical
        • Photography
        • Productivity
        • Shopping
        • Social
        • Travel
      • App Events
      • Exclusive
      No Result
      View All Result
      Mobile App Development | Design | Marketing Magazine: Appedus
      No Result
      View All Result
      Home Business

      MAX, a Nigerian mobility technology business, has raised $31 million in a Series B financing to grow across Africa

      After securing $31 million in Series B funding, Nigerian mobility technology company Metro Africa Xpress Inc. (MAX) has plans to expand into new African markets.

      by Editorial Team
      December 20, 2021
      in Business, Featured, Funding, News-Curated
      Reading Time: 3 mins read
      0
      MAX

      Source: Google Images

      Share on FacebookShare on Twitter

      Main Highlights:

      • Metro Africa Xpress Inc. (MAX), a Nigerian mobility technology company that just acquired $31 million in Series B funding, wants to expand into more markets around Africa as part of its effort to formalize the continent’s transportation sector.
      • According to Njoya, they analyzed drivers’ activities and discovered that the vast majority do not own the vehicles they operate.
      • MAX plans to create electric vehicle infrastructure as part of its portfolio of services in new markets to offer EVs to its growing customer base.

      Metro Africa Xpress Inc. (MAX), a Nigerian mobility technology business that just raised $31 million in Series B funding, plans to expand into additional markets across Africa as it works to formalize the continent’s transportation sector. The business plans to utilize the money to expand into Ghana and Egypt by the end of the first quarter of 2022 and other countries in Francophone, East, and Southern Africa by the end of the year.

      Additionally, the monies will be utilized to credit vehicle financing to approximately 100,000 drivers over the following two years. MAX began in 2015 as a motorbike delivery firm before expanding into ride-hailing and eventually into car subscription and finance services — solutions it developed based on data from its original offerings.

      The business began offering vehicle finance in 2018, and in less than two years, CFO Guy-Bertrand Njoya stated that the churn rate for drivers linked with them has dropped to near-zero. Njoya stated that they spent time analyzing drivers’ operations and discovered that most of them do not own the vehicles they operate. It became evident that the underlying issue confronting drivers is consistent vehicle access. And it is at this point; they realize that if they are to succeed in resolving the continent’s mobility crisis, they must first solve the issue of automobile access.

      MAX’s Extension

      MAX’s commercial bank partners are now extending vehicle purchase loans to drivers based on credit risk data provided by the mobility company. MAX intends to establish electric car infrastructure in its new markets as part of its portfolio of services, to offer EVs to its increasing clientele.

      Adetayo Bamiduro, co-founder and CEO of MAX. Chinedu Azodoh, another co-founder of the firm, stated that this is another milestone in their mission to make mobility safe, inexpensive, accessible, and sustainable through the deployment of high-performance technologies and operators. The funding will allow them to improve the lives of hundreds of thousands of drivers throughout the continent, accelerate worldwide expansion, and pursue pioneering mobility projects.

      MAX’s activities have been centered on resolving mobility difficulties, and the next puzzle it sought to solve was increasing driver earnings while lowering operational expenses.

      The creators quickly recognized that expanding into electric vehicles would be a natural next step, and in 2019, MAX began its adventure into electric mobility. Currently, the company supplies drivers with two-, three-, and four-wheeler EVs via a variety of leasing and financing alternatives.

      Njoya stated that this is an additional choice they wanted to present drivers because they worry about earning a living wage. For them, electric mobility will be a significant driver of that goal, as EVs are now more cost-effective than their gas-powered counterparts.

      What does MAX do now?

      MAX now designs and manufactures its electric motorcycle series. Njoya stated that they supply their EVs with partners across the ecosystem, including Yamaha, a prominent motorbike manufacturer. Njoya stated that they collaborate with Yamaha in driver access to automobiles and financing. Yamaha today established a specialized driver vehicle finance business for Africa due to the work they’ve been conducting with them over the last couple of years.

      The latest capital round was headed by global private equity firm Light rock, investing in the African mobility industry for the first time. Global Ventures, an international venture capital firm based in the United Arab Emirates, and current investors Novastar Ventures and Proparco, the French development finance organization, participated in the round through their Digital Africa project.

      Njoya stated that the firm aims to become the preferred vehicle subscription and financial services platform for the continent’s millions of transport operators. They recently teamed with Estonian ride-hailing business Bolt on a lease-to-own deal that will enable 10,000 of the platform’s drivers in Nigeria to obtain fuel-efficient automobiles.

      mm

      Editorial Team

      We at Appedus are a group of digital nomads aggregating, writing, and publishing the best of the tech news in the mobile app ecosystem. Our constant endeavor is to get the most actionable news for you to use.

      Next Post
      Razorpay

      Razorpay, an Indian fintech company, has been valued at $7.5 billion following a $375 million fundraising round

      Weekly Newsletter

      Top Apps This Week

      Google Now Just Made It Even Easier To Track Your Favorite TV Shows And Movies
      Featured

      Google Now Just Made It Even Easier To Track Your Favorite TV Shows And Movies

      by Editorial
      January 7, 2023

      Today’s announcement by Google of a new feature for their...

      Read more
      6-iOS-Productivity-Apps-I-Cant-Live-Without-appedus

      6 Best iOS Productivity Apps You Can’t Live Without

      December 31, 2022
      7-Reasons-Why-Every-Business-Should-Be-Mobile-Friendly-appedus

      7 Reasons Why Every Business Should Be Mobile-Friendly

      December 26, 2022
      Load More

      About Us

      Mobile App Development | Design | Marketing Magazine: Appedus

      Appedus is a mobile app ecosystem focused news publishing platform which covers various topics like app design, app development, app marketing and other relevant news, views or opinions. We also publish industry insights, e-books, developer interviews and e-magazines. You can get in touch with us on hola@appedus.com or you can snail mail us at

      Medianiti Ltd. Brooklands Business Park, Wellington Way, Weybridge KT13 0TT, United Kingdom

      Latest Articles & News

      How to market a mobile app

      6 ways to market a mobile app

      January 18, 2023
      Best practices for mobile app design

      Best practices for mobile app design

      January 17, 2023

      Important Links

      • Guest Post
      • Submit App Review
      • Submit PR
      • Mobile App Marketing
      • Mobile App Reviews | Top Android & iOS app reviews
      • Top Apps
      • Curated News
      • Advertise
      • Contact Us

      Subscribe

      • Advertise
      • App Events
      • Appedus
      • Contact Us
      • Exclusive at Appedus
      • Our Authors, Contributors & Writers
      • Privacy Policy
      • Submit App for Review
      • Submit Free Press Release
      • Thank You
      • Tip-Off
      • Write For Us | Mobile App Development Guest Post
      • Write For Us | Mobile App Development Guest Post Paid

      © 2022 Appedus - Appedus All Right Reserved

      No Result
      View All Result
      • Advertise
      • App Events
      • Appedus
      • Contact Us
      • Exclusive at Appedus
      • Our Authors, Contributors & Writers
      • Privacy Policy
      • Submit App for Review
      • Submit Free Press Release
      • Thank You
      • Tip-Off
      • Write For Us | Mobile App Development Guest Post
      • Write For Us | Mobile App Development Guest Post Paid

      © 2022 Appedus - Appedus All Right Reserved

      Welcome Back!

      OR

      Login to your account below

      Forgotten Password?

      Retrieve your password

      Please enter your username or email address to reset your password.

      Log In
      This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
      Go to mobile version