Diligence memo · auto-generated · as of July 2, 2026
MAX
MAX has raised $31M over 1 round; too few niche peers to rank its valuation yet.
Businessfiled
MAX is a private company, based in Africa. Nigeria’s Metro Africa Xpress (MAX), a vehicle subscription platform for low-to-zero emission vehicles, has raised US$31 million in the first close of a Series B funding round, with further closes expected in the next few weeks.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
MAX has raised $31M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Series B (a $15M–$40M round).
Largest single filing: $31M on 2021-12-20.
Most recent recorded round closed around 2021-12-20.
Valuation (modeled)modeled
Provath models MAX at approximately $358M (range $78M–$1.0B). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Too few comparable companies in this niche to rank the valuation fairly yet.
Financing rhythm & timingmixed
Not enough dated financing history to read a financing rhythm.
Comparablesmixed
Capital scale ranks ahead of 100% of sector peers (8525 compared).
Modeled value ranks above 100% of those peers.
Risks & flagsmixed
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.