UAE-Based Naran Raises $10 Million to Expand Mobility Financing

UAE-based mobility financing and fleet infrastructure platform Naran has raised $10 million in equity and debt financing from UAE investment firm Landel to scale its operations across emerging markets.

The funding will support fleet expansion in Colombia, Peru, Senegal and Côte d’Ivoire, as well as entry into new markets including MENA and the rollout of new fintech products. Naran also plans to launch in Paraguay in September 2026.

Founded in 2025 by former Yango executives Bayaskhalan Alexeev and Alexander Gubarev, Naran provides rent-to-own financing for cars and motorcycles to ride-hailing and delivery drivers who may struggle to access traditional bank loans. Financing terms range from 12 to 60 months.

The company purchases vehicles directly from manufacturers and works with ride-hailing and delivery platforms including Yango and inDrive. It has also developed its own fleet management system covering driver onboarding, payment scheduling, utilisation tracking, telematics and maintenance across its markets.

Each financing contract also creates a formal repayment history for drivers, which Naran plans to use as the basis for a broader asset-backed financing platform. The company intends to offer its fleet management technology to third-party operators as a SaaS product and provide asset-backed debt financing for fleet expansion.

“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,” said Bayaskhalan Alexeev, CEO and co-founder of Naran. “Our goal is to make vehicle ownership accessible to mobility entrepreneurs, helping them increase their income and build financial security.”

By 2030, Naran is targeting operations across 10 countries, 30,000 income opportunities and fleets of 10,000 cars and 20,000 motorcycles. Its expansion strategy spans Latin America, Africa and MENA, positioning the UAE-based company around growing demand for ride-hailing infrastructure and alternative vehicle financing in markets with large underbanked workforces.