Naran Raises $10M for Global Mobility Fintech Expansion

Naran, a dynamic player in the mobility finance sector, has successfully closed a significant funding round totaling $10 million. This capital injection, a blend of equity and debt, was provided by UAE-based investment firm Landel. The infusion of funds is strategically earmarked to accelerate Naran's expansion across its current operational territories in Colombia, Peru, Senegal, and Côte d’Ivoire, while also paving the way for its entry into new, promising markets, including the MENA region. Furthermore, the capital will bolster the development and deployment of innovative fintech solutions.

Founded in 2025 by industry veterans Bayaskhalan Alexeev and Alexander Gubarev, who previously scaled ride-hailing operations for Yango across Latin America and Africa, Naran addresses a critical gap in emerging economies. The company specializes in rent-to-own financing for vehicles, empowering ride-hailing and delivery drivers to acquire cars and motorcycles through flexible payment plans spanning 12 to 60 months. By sourcing vehicles directly from manufacturers and forging partnerships with major ride-hailing and delivery platforms like Yango and inDrive, Naran is effectively enabling underbanked drivers to access income-generating assets.

The company's operational efficiency is underpinned by a proprietary fleet management system. This integrated technology platform manages all facets of Naran's operations, from driver onboarding and payment processing to vehicle utilization tracking and maintenance scheduling. This unified approach ensures seamless scalability across diverse geographical markets, a crucial advantage in the fast-paced mobility sector. The underlying data generated by this system is also foundational to Naran's long-term vision of becoming a leading asset-backed financing platform for emerging markets.

Beyond its core vehicle financing, Naran is strategically positioning itself as a technology enabler. The company intends to offer its robust fleet management technology as a Software-as-a-Service (SaaS) product to third-party fleet operators. This move broadens Naran's market reach, transforming potential competitors into clients. Additionally, Naran plans to provide asset-backed financing to support the expansion of these third-party fleets, creating a multi-faceted revenue stream and solidifying its ecosystem play.

The demand for such services is substantial, particularly in regions like Sub-Saharan Africa, where informal employment is prevalent, and access to traditional financing is limited. In Côte d’Ivoire, for instance, mobility constraints are estimated to hinder national income by up to 5%. Ride-hailing offers a significant income boost, with drivers in Africa potentially earning up to 130% more than those in comparable jobs. The shared mobility market across Africa is projected to nearly double by 2030, reaching approximately $8 billion and creating over 550,000 new income opportunities, representing the fastest growth globally.

Landel's investment underscores the compelling economics of Naran's model. As stated by Aidar Musin, Managing Partner at Landel, the company represents a unique combination of an asset-backed business with tangible collateral in the form of revenue-generating, GPS-tracked vehicles, managed by an experienced team. This structure generates consistent daily cash flows and validated unit economics, further enhanced by a scalable fleet management infrastructure.

Looking ahead, Naran has ambitious growth targets, aiming to operate in 10 countries by 2030, facilitate 30,000 income-generating opportunities, and manage fleets comprising 10,000 cars and 20,000 motorcycles. This expansion not only signifies significant cross-border business growth but also highlights the potential for UAE-based innovation to impact global markets.