Nigeria’s electric vehicle (EV) pioneer, Metro Africa Xpress (MAX), has officially shifted into its high-growth era. On January 16, 2026, the company announced it has secured $24 million in a strategic mix of equity and debt funding. This capital injection comes at a pivotal moment, as MAX confirmed it has achieved full profitability in its primary market of Nigeria—a rare and significant milestone for an asset-heavy mobility startup in Africa. The funding round was led by equity from global institutional backers including Equitane DMCC, Novastar, and Endeavor Catalyst, complemented by asset-backed and climate-focused debt from the Energy Entrepreneurs Growth Fund (EEGF). This financial validation proves that the company’s "integrated mobility platform" model is not just environmentally sustainable but commercially viable in one of the continent's most challenging markets. MAX’s path to profitability was driven by a rigorous "strategic reset" in 2025, which included a 30% workforce op...