Triple Jump has provided $8 million in debt funding to Africa Xpress, supporting the company’s plans to scale its electric mobility operations across Africa.

The transaction marks one of MAX’s first international institutional debt facilities and reflects growing investor interest in Africa’s emerging electric mobility sector.

The funding will be used to expand MAX’s electric vehicle fleet, roll out additional battery-swapping infrastructure, and support the continued development of its Pay-As-You-Go financing platform.

Operating in Nigeria, Ghana and Cameroon, with Nigeria as its largest market, MAX has built an integrated mobility platform combining electric vehicles designed for local operating conditions, battery-swapping infrastructure, IoT-enabled fleet management systems and embedded financing solutions for commercial drivers.

The company’s model is aimed at reducing barriers to vehicle ownership for drivers by providing access to productive mobility assets through structured financing while lowering operating costs compared with internal combustion engine vehicles.

Triple Jump, based in the Netherlands, focuses on financing inclusive financial institutions and clean energy businesses across emerging markets. Its participation is expected to support further institutional capital deployment into the business as the company expands its operations.

The transaction was arranged by Verdant IMAP, which acted as sole financial adviser and arranger, supporting the structuring, investor engagement and execution of the financing.