Nigerian Startup and bike hailing service Max.ng has just secured a $ 7 million funding which has led the brand to its next expansion phase.
According to its co-founder Adetayo Bamiduro, Max.ng’s expansion would be funded by a recent investment round that raised up to $7 million.
The transport Start-up is aiming at achieving an accumulated total of 2 million rides by the middle of 2020, up from 200,000 by May.
Max.ng has moved from a based bike service in 2015 to an app hailing system in 2017, which was driven by technology.
In a Reuters interview, the CEO stated thus:
What we’ve done is to look at the market in Nigeria and across the region and say ‘what pieces are missing?’: financial infrastructure for mobility doesn’t exist, ride-hailing technology for two-wheeled and three-wheeled mobility doesn’t exist.
We wish Max.ng the best in their future endeavours and market expansion.