UAE-based mobility fintech Naran has secured $10 million in equity and debt financing from UAE investment firm Landel to expand its vehicle-financing platform across emerging markets. The capital will support fleet growth in Colombia, Peru, Senegal, and Côte d’Ivoire, while helping the company enter additional markets, including the Middle East and North Africa. Naran also plans to use the funding to develop new fintech products linked to its asset-backed mobility model.
Expanding Access to Vehicle Ownership
Founded in 2025 by former Yango executives Bayaskhalan Alexeev and Alexander Gubarev, Naran targets ride-hailing and delivery drivers who often struggle to secure conventional bank loans because of irregular income or limited credit histories. Its core product is a rent-to-own model for cars and motorcycles, with repayment periods ranging from 12 to 60 months. The approach is designed to give drivers access to income-generating vehicles while providing a path toward ownership.
Combining Financing and Fleet Operations
Naran purchases vehicles directly from manufacturers and works with mobility platforms including Yango and inDrive, combining financing with fleet deployment and driver access. Its service includes vehicle financing, delivery, servicing, insurance, GPS, and ongoing support, with weekly payments structured around drivers’ earning patterns. This integrated model allows the company to manage both the financial and operational sides of vehicle ownership rather than operating only as a lender.
Building Technology for Scale
The company has developed an internal fleet management system covering driver onboarding, payment scheduling, vehicle utilization, telematics, and maintenance across its markets. A unified technology platform and standardized operating model are intended to help Naran expand internationally while maintaining oversight of vehicles and repayment performance. Financing agreements also create repayment histories that could support future financial products and more advanced asset-backed underwriting.
Growth Across Emerging Markets
Naran is already active across Latin America and Africa and plans to launch in Paraguay in September 2026 as part of its next expansion phase. The new financing will also support further growth in Colombia, Peru, Senegal, and Côte d’Ivoire, alongside planned entry into additional MENA markets. By 2030, the company is targeting operations in 10 countries, a fleet of 10,000 cars and 20,000 motorcycles, and 30,000 income-generating opportunities.
Extending the Platform to Third Parties
Beyond financing vehicles directly to drivers, Naran plans to expand its technology and financing infrastructure to other fleet operators. The company intends to offer its fleet management system as software-as-a-service and provide asset-backed debt financing to support third-party fleet growth. This strategy could broaden Naran’s revenue base while positioning it as an infrastructure provider for mobility businesses as well as a fleet operator.
Landel Backs the Asset-Backed Model
Landel invests its own capital in real assets and operating businesses, with mobility among its focus areas in emerging markets. The firm describes Naran as an operational and scaling platform with more than 1,000 vehicles, reflecting the asset-heavy nature of the business and its exposure to recurring driver payments. For Naran, Landel’s backing adds capital for expansion while supporting a model built around tangible vehicles, operating data, and cash-generating mobility activity.
Naran’s $10 million financing represents a major step in its effort to build a cross-border mobility-financing business connecting vehicle ownership, fleet technology, and asset-backed credit. Its growth strategy focuses on markets where ride-hailing and delivery demand is expanding but access to traditional vehicle finance remains limited for many drivers. Successful execution could move Naran beyond fleet ownership and establish it as a broader financing and technology platform serving mobility entrepreneurs and third-party operators across emerging markets.