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

The company will use the new funding to expand its mobility fleet operations in Colombia, Peru, Senegal, and Côte d'Ivoire. It also plans to enter new markets, including the MENA region.

Naran will also use the funding to develop and launch new fintech products. The company aims to grow its mobility business while expanding its financial services across more markets.

"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.

Founded in 2025 by Bayaskhalan Alexeev and Alexander Gubarev, Naran offers rent-to-own financing for cars and motorcycles, helping independent drivers get vehicles through flexible payment plans. These plans can range from 12 to 60 months, making it easier for drivers to afford a vehicle.

The company buys vehicles directly from manufacturers and works with major ride-hailing and delivery platforms such as Yango and inDrive. Through these partnerships, Naran helps drivers who may have limited access to traditional financing get on the road and earn income.

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