Elatech

What Elatech does

Elatech, operating through its legal entity Acxi Mass Transit Limited, is a Nigerian privately-held company that operates Acxi, a mobile ride-hailing application available on iOS and Android. The platform connects urban commuters in need of on-demand transportation with driver-partners who use their personal vehicles to provide ride services, primarily targeting the Nigerian urban transportation market with a stated base in Port Harcourt. Founded in 2018, Elatech/Acxi functions as a two-sided marketplace serving both rider demand (individual urban commuters) and supply (driver-partners seeking flexible or supplemental income), with testimonials indicating both full-time and part-time driver usage.

The Acxi app's core technology is a consumer-facing mobile application featuring on-demand ride booking, multiple-stop routing, third-party ride booking, saved favorite destinations, cash and card payment processing, and a points-based referral program. The technology stack appears to be standard mobile app development on Android and iOS platforms with no disclosed proprietary AI, ML, API, or SDK components. The app requires active internet connectivity and stores personal data locally for ride booking purposes.

The business model is a per-ride transaction fee structure: users pay per ride with automatic card billing or cash payment, and the company earns a take rate on each completed transaction. Customer acquisition relies on a product-led growth motion through app store presence (Apple App Store and Google Play Store), with a free first-ride offer and referral program as primary acquisition hooks. Marketing channels include app store optimization, a content blog (blog.acxi.ng), and word-of-mouth through displayed customer testimonials. The company has not disclosed any external funding, partnerships, awards, or institutional investors, and operates with 11–50 employees as a bootstrapped, founder-owned private limited company.

Name

Elatech

Legal name

Acxi Mass Transit Limited

Website

https://elatech.com.ng

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

Elatech operates Acxi, a Nigerian mobile ride-hailing app connecting urban commuters with driver-partners for on-demand transportation, monetizing through per-ride transaction fees on iOS and Android since 2018.

Ownership category

akta.pro rank

Headquarters

HQ city

Port Harcourt

HQ country

Nigeria

HQ region

Africa

Offices1 record

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Operations, Marketing or Sales, Personnel

Revenue model

1. Ride Transaction Fees: Acxi generates revenue through transaction fees charged per ride. Users pay for their rides via cash or connected debit/credit cards. The app automatically bills the card on file upon ride completion.
2. Promo Code Discounts: The company offers promotional codes that translate to ride discounts, suggesting a potential revenue model involving promotional partnerships or subsidized rides for user acquisition.

Pricing tiers

Go-to-market motion1 record

Distribution channels3 records

Marketing channels4 records

Core offering

Elatech operates Acxi, a mobile-based ride-hailing application that lets urban commuters hail rides directly from their phone. The platform connects individual riders with independent driver partners in Nigeria, supports in-app features such as multiple stops, booking for someone else, saved favorite places, and promotional/free first rides, and processes payments via cash or linked debit/credit cards with automatic billing on ride completion.

Product overview

Elatech operates a single unified ride-hailing product called Acxi, a mobile app that connects users with drivers for transportation services. The company offers this one core product as a mobile application available on both Android and iOS platforms, with features for ride booking, payment processing (cash and card), and user account management.

Differentiator

Problem solved

Functional benefit

Products and services

• Acxi mobile ride-hailing app Acxi is a mobile ride-hailing application that enables users in Nigeria to hail rides directly from their phone. It supports multiple intermediate stops during a ride, booking rides on behalf of other people, saving favorite destinations, a free first ride, and a referral points program. The app is available on Android (Google Play Store) and iOS (Apple App Store) and accepts cash or debit/credit card payments, with automatic card billing on ride completion.

Named customers5 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Scale indicators1 record

Recent moves4 records

Expansion highlights3 records

Broad incumbents

• Uber: Uber operates its global ride-hailing app in Nigeria and serves urban commuters with the same on-demand model as Acxi. As a broad incumbent with cross-market scale and a mature driver-rider platform, it is the most established competitor in the same product category and customer base.

Regional players

• SWVL: SWVL is a mass-transit and ride-hailing platform operating across Africa and the Middle East with app-based booking. While its core offering is scheduled bus routes rather than point-to-point rides, it competes for the same urban mobility wallet in Nigeria and serves overlapping commuter customers with a similar tech-enabled model.
• Rapido: Rapido is an India-headquartered bike taxi and ride-hailing platform that has expanded into African markets. It serves urban commuters with an app-based model similar to Acxi, although its primary scale remains in India and it represents a regional / emerging cross-border competitor.
• SafeBoda: SafeBoda operates an app-based ride-hailing and delivery platform across East Africa (Uganda, Kenya, Nigeria). It is comparable to Acxi on product (mobile ride-hailing), technology (app-based dispatch), and business model (per-ride take rate), but serves a different regional market.

Direct peers

• InDrive: InDrive is a ride-hailing platform with a strong Nigerian presence, allowing riders to propose fares and drivers to accept. It directly competes with Acxi for both riders and drivers in the same urban Nigerian market with a similar app-based, two-sided model.
• Bolt: Bolt is one of the largest ride-hailing platforms in Africa, operating in Nigeria and across multiple Nigerian cities with a mobile app for on-demand rides. It is a direct competitor to Acxi, matching the same product category (mobile ride-hailing), target market (urban Nigerian commuters), and business model (transaction-fee per ride).
• Gokada: Gokada was a Nigerian ride-hailing and delivery platform operating in Lagos with motorbike-led urban transport. Although its operations were disrupted by Lagos motorcycle bans, it remains a comparable peer reflecting the same Nigerian urban ride-hailing market, customer segment, and mobile-app distribution model.
• MAX (formerly MAX.ng): MAX is a Nigerian mobility startup providing ride-hailing and delivery services through a mobile app, operating in cities across Nigeria. It is a direct peer to Acxi with the same target market (Nigerian urban commuters), business model (per-ride transaction fees), and product category (app-based ride booking).
• Little (formerly Easy Taxi Nigeria): Little is an African ride-hailing and delivery app operating in Nigeria and other African markets, providing on-demand driver dispatch via a mobile app. It is a direct peer to Acxi on product category, customer base (urban commuters), and per-ride transaction revenue model.

Others

• Moove: Moove is a Nigerian-founded mobility fintech providing vehicle financing to ride-hailing drivers in Africa. While not a direct ride-hailing competitor, it sits in the same ecosystem as Acxi — its customers are drivers on platforms like Bolt, Uber, and potentially Acxi — making it an adjacent ecosystem participant comparable in market and stakeholder base.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat3 records

Key risks6 records

Key highlights6 records

Customer concentration

• Xx.com/elatechhq

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Elatech