Metro Africa Xpress, Inc. (MAX) announced its $31 million Series B financing round. Led by Lightrock, which is making its first investment in the African mobility space, the round included Global Ventures, and existing investors Novastar Ventures and Proparco.
Founded in 2015, MAX – which designs and assembles its own line of electric motorcycles – provides two, three and four-wheeler electronic vehicles to drivers through various leasing and financing options. MAX will use the funding to enter Ghana, Egypt and other markets in Francophone, East and Southern Africa, and to extend vehicle financing credit to over 100,000 drivers.
The Orrick team Ed Dyson (Picture), Chris Grew, Jason Wu and Elvira Kirilko.
Law Firms: Orrick Herrington & Sutcliffe LLP;
Clients: Metro Africa Xpress, Inc.;