How tech mobility platform MAX impacts the future of African mobility
Metro Africa Express (MAX) started out in Nigeria in 2015 when Adetayo Bamiduro and Chinedu Azodoh were seeking to aggregate, structure and formalise the informal mobility market across Africa. Six years later the company has secured a $31 million funding, is expanding to Ghana and Egypt, and designing and assembling its own line of electric motorcycles. MAX is providing access to safe and affordable on-demand motorcycle transport services with not only the drivers’- but also the planets’ needs at its heart.
Vehicle subscription platform for low-to-zero emission vehicles
MAX is solving a persistent problem in the Nigerian transportation system, which is characterised by an unreliable, unsafe and an inefficient informal (motorcycle) taxi industry. MAX provides commuters access to safe and affordable on-demand motorcycle-transport service via a digital transport platform on a subscription basis.
In 2018, also affordable vehicle financing and services were introduced: “We spent time understanding drivers’ operations and it became apparent to us that most of them do not own the vehicles they use”. Today, the Driver Service Platform provides access to finance, vehicle ownership without collateral, licence, and insurance packages. Moreover, owning a MAX vehicle comes with added benefits such as health care coverage, vehicle protection, school fees coverage and driver skill development.
"MAX takes care of increased financial inclusion for micro-entrepreneurs, economic empowerment and sustainable job creation through income-generating assets, technology, and enhancement of the transport infrastructure with high quality and safe transportation."
Positive impact on people and the earth
Most commercial drivers in Africa are underserved, excluded from financial systems, and have no proper insurance, leading to unsafe and unreliable transport. With its products and services, MAX provides opportunities for informal drivers with no banking history and is with that directly addressing important societal issues. Examples of which are increased financial inclusion for micro-entrepreneurs, economic empowerment, sustainable job creation through income-generating assets, technology, and enhancement of the transport infrastructure with high quality and safe transportation.
Additionally, MAX is leading the transition to sustainable and environmentally friendly mobility through the deployment of electric vehicles, charging infrastructure, and batteries. The company currently provides two, three and four-wheeler electric vehicles to drivers to ensure cleaner air, reduced Co2 emissions and less noise pollution so that people can live healthier and happier lives.
Novastar Ventures & MAX
In 2019, Novastar led MAX's USD 7 million first round of funding (Series A) with participation by Japanese manufacturer Yamaha. In 2021, MAX secured USD 31 million in a second round of funding (Series B) in which Novastar also participated. Novastar Fund I has been one of the first investment funds in the DGGF portfolio since 2015.
Its successor fund, Novastar Fund II, entered the DGGF portfolio in 2018. With this second round of funding, MAX will continue their journey to make mobility safe, affordable, accessible, and sustainable by deploying high-performance technologies.
Read more about Novastar Ventures and MAX on their website: www.novastarventures.com/portfolio/max/