Naran Raises $10M for Mobility Finance Expansion

Naran, a fintech innovator focused on empowering mobility entrepreneurs, has successfully closed a significant funding round totaling $10 million. The investment, a mix of equity and debt, was led by UAE-based investment firm Landel. This capital infusion is earmarked for aggressive expansion across key emerging markets in Latin America and Africa, specifically targeting growth in Colombia, Peru, Senegal, and Côte d'Ivoire. The company also plans to establish a presence in the MENA region and introduce new financial technology products.

Founded in 2025 by veterans of the ride-hailing sector, Bayaskhalan Alexeev and Alexander Gubarev, Naran addresses a critical gap in vehicle accessibility for independent drivers. The platform offers rent-to-own financing solutions for cars and motorcycles, with flexible repayment terms ranging from 12 to 60 months. By procuring vehicles directly from manufacturers and collaborating with major ride-hailing and delivery platforms like Yango and inDrive, Naran facilitates vehicle ownership for underbanked individuals, thereby boosting their earning potential and formalizing their financial history.

A cornerstone of Naran's operational strategy is its proprietary fleet management system. This integrated technology platform streamlines all aspects of the business, from driver onboarding and payment processing to vehicle utilization tracking, telematics, and maintenance. This unified approach ensures efficient scaling and a consistent operational model across diverse geographical locations, a crucial advantage in rapidly developing markets.

The company's vision extends beyond simply providing vehicles. Each financing contract serves as the initial step in building a formal repayment history for drivers, laying the groundwork for Naran to evolve into a comprehensive asset-backed financing platform for emerging economies. Future offerings will leverage tangible assets and verified repayment data to secure credit facilities, democratizing access to financial services.

Naran is also strategically opening its technology infrastructure to third-party fleet operators. Through a Software-as-a-Service (SaaS) model, Naran will offer its fleet management software and automation tools. Additionally, the company will provide asset-backed debt financing for fleet expansion and may pursue outright acquisitions of operators where strategically beneficial. This multi-fleet strategy transforms potential competitors into customers, creating a robust ecosystem.

The mobility sector in Africa presents a compelling growth narrative. With nearly 88% of employment being informal, access to financing remains a significant hurdle. However, the demand for ride-hailing services is substantial, with Côte d'Ivoire being a prime example of high adoption rates. Industry projections suggest the continent's shared mobility market could nearly double to approximately $8 billion by 2030, generating over 550,000 new income opportunities. Naran's model directly taps into this expanding market, providing essential capital and infrastructure.

Aidar Musin, Managing Partner at Landel, highlighted the unique value proposition: "Naran represents a rare combination in emerging markets: an asset-backed business where every dollar is secured by a revenue-generating, GPS-tracked vehicle, managed by a team with deep operational expertise in these specific regions. The model generates hard collateral, daily cash flows, and proven unit economics." Naran aims to operate in 10 countries by 2030, facilitating 30,000 income opportunities and deploying substantial fleets of cars and motorcycles.