Naran raises $10 million for mobility fintech in emerging markets
UAE-based mobility fintech Naran has raised $10 million in equity and debt financing from UAE investment firm Landel.
Founded in 2025 by Bayaskhalan Alexeev and Alexander Gubarev, Naran provides rent-to-own financing for cars and motorcycles to ride-hailing and delivery drivers who cannot access traditional bank loans due to irregular income or limited credit histories.
The company buys vehicles directly from manufacturers and partners with platforms including Yango and inDrive, offering flexible repayment terms from 12 to 60 months. Naran currently operates in Colombia, Peru, Senegal, and Côte d'Ivoire, with plans to launch in Paraguay in September 2026.
Why it matters
Naran solves a structural constraint for global ride-hailing and delivery platforms expanding into emerging markets: vehicle supply. Every financed vehicle arrives with a vetted, onboarded driver, functioning as a supply engine for marketplace partners.
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The company has built its own fleet management system—covering driver onboarding, payment scheduling, utilisation tracking, telematics, and maintenance—which it plans to offer to third-party fleet operators as a SaaS product, alongside asset-backed debt financing for fleet expansion.
For international investors, the model offers hard collateral on every dollar deployed: each vehicle is GPS-tracked, revenue-generating, and supported by daily cash flows and proven unit economics. By 2030, Naran aims to operate across 10 countries, deploy fleets of 10,000 cars and 20,000 motorcycles, and create 30,000 income opportunities.
"We address a critical financing gap in emerging markets, where ride-hailing and delivery drivers can't access traditional bank loans due to irregular income or limited credit histories. Our goal is to make vehicle ownership accessible to mobility entrepreneurs, helping them increase their income and build financial security.
At the same time, we solve the biggest constraint for ride-hailing and delivery platforms in these markets: supply. Every vehicle we finance is an active driver added to our partners' marketplaces," said Bayaskhalan Alexeev, CEO and co-founder of Naran.
"Naran is a rare combination in emerging markets: an asset-backed business where every dollar deployed is secured by a revenue-generating, GPS-tracked vehicle, run by a team with deep operational experience in these exact markets. The model generates hard collateral, daily cash flows, and proven unit economics – and the fleet management infrastructure behind it makes the model scalable well beyond the company's own fleet. We look forward to supporting Naran's next phase of growth across Latin America and Africa," said Aidar Musin, Managing Partner at Landel.
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