Cyprus-based mobility financing and technology startup NeoFleet Capital has raised $4 million in pre-seed funding to expand its professional taxi fleet operations across emerging markets. Announced on October 8, 2026, the investment will support the company's expansion across Africa, Latin America, and Asia, building on its existing operations in Senegal, Côte d'Ivoire, and Peru. Through its integrated financing and fleet management platform, NeoFleet aims to address vehicle financing challenges, connect institutional capital with local mobility operators, and establish scalable infrastructure for commercial transportation.
Funding Round and Leadership
The funding round was backed by Mark Loughran, former president and chief financial officer of global ride-hailing company inDrive, alongside other private investors. Loughran has also joined NeoFleet as president and co-founder, bringing experience in international mobility operations and financial management. The company has not disclosed its valuation or the identities of the remaining investors.
Founded in Cyprus in 2024, NeoFleet is led by CEO Igor Shiyanov, who previously worked at inDrive and Boston Consulting Group. Before establishing NeoFleet, Shiyanov founded a delivery startup that was subsequently acquired by a ride-hailing operator. Co-founder Oleg Mosyazh oversees business development and capital raising, drawing on professional experience at Microsoft and PwC.
An Integrated Fleet Financing Model
NeoFleet operates through a Fleet Management Franchise model that integrates vehicle financing, fleet management technology, maintenance, insurance, and operational services. This structure is designed to help local operators expand their fleets while simplifying the financial and administrative requirements associated with managing commercial vehicles. The company also aims to provide institutional investors with access to mobility-related assets in markets where fleet ownership remains fragmented.
According to NeoFleet, professional operators currently manage approximately 20% to 30% of taxis worldwide. The company estimates that the global mobility fleet asset market exceeds $500 billion, although this figure represents its own market assessment. NeoFleet sees an opportunity to serve this market by connecting vehicle financing with standardized fleet management processes.
Expansion Plans and Vehicle Deployment Targets
NeoFleet plans to use the new funding to strengthen operations in its existing markets and establish a presence in additional high-growth economies. By the end of 2026, the company aims to deploy approximately 1,000 vehicles across its network through partnerships with fleet operators and ride-hailing platforms. These partnerships are expected to support local expansion while allowing NeoFleet to develop its financing and operational infrastructure.
The company has established a longer-term target of supporting approximately 5,000 vehicles by the end of 2027. NeoFleet estimates that this network would represent between $75 million and $100 million in total vehicle value. Achieving these targets will depend on successful market expansion, operational execution, and access to sufficient capital for vehicle financing.
Preparing for Autonomous Mobility
Beyond conventional taxi fleets, NeoFleet is positioning its business model to support the development of autonomous transportation services. The company expects professional fleet management to become increasingly important as robotaxis require dedicated infrastructure for charging, maintenance, cleaning, insurance, and vehicle repositioning. Goldman Sachs Research projected in April 2026 that the global commercial robotaxi market could reach approximately $415 billion by 2035, involving roughly six million vehicles.
NeoFleet Capital's $4 million pre-seed financing marks a step in its efforts to expand commercial fleet financing across emerging mobility markets. With plans to increase vehicle deployments and develop relationships with local operators, the company is focused on building a larger network supported by integrated financial and operational services. Its longer-term strategy also anticipates growing demand for specialized fleet infrastructure as autonomous transportation technologies advance.