Naran Raises $10M from Landel to Scale Mobility Fintech Across Africa and Latin America

Mobility fintech startup Naran has raised $10 million from Landel in a combination of equity and debt financing as it prepares to expand its vehicle financing business across Africa, Latin America and the Middle East.

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 credit.

For founders and investors, the round is interesting because Naran is combining fintech with physical assets, creating a model designed around both vehicle financing and fleet infrastructure.

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Naran is tackling a major mobility financing gap

Naran currently operates across Colombia, Peru, Senegal and Côte d’Ivoire, with the new funding supporting further fleet expansion in these markets. The company is also preparing to enter additional markets, including MENA, with Paraguay reportedly planned for September 2026.

Its rent-to-own model allows drivers to access vehicles through payment terms ranging from 12 to 60 months. Naran purchases vehicles directly from manufacturers and works with ride-hailing and delivery platforms including Yango and inDrive.

The company also provides insurance, GPS tracking and ongoing support, creating a broader financing and fleet-management service rather than simply offering a vehicle loan.

That addresses two problems at once. Drivers gain access to vehicles and an opportunity to generate income, while mobility platforms gain access to additional vehicles and drivers.

The bigger opportunity is beyond vehicle financing

Naran is also developing its own fleet-management infrastructure covering driver onboarding, payment scheduling, utilisation tracking, telematics and maintenance.

The company plans to extend this technology to third-party fleet operators through a SaaS model, potentially creating an additional recurring revenue stream alongside its asset-backed financing business.

That combination is what makes the funding particularly interesting from an investor perspective.

Landel's investment gives Naran capital to acquire more vehicles while expanding the technology infrastructure supporting those assets. The business can therefore build a physical fleet while developing software that could eventually serve other operators.

Naran targets ambitious growth

The company aims to operate across 10 countries by 2030, with targets of creating 30,000 income opportunities and deploying 10,000 cars and 20,000 motorcycles.

For investors, the challenge will be proving that the model can maintain strong unit economics while expanding across markets with different currencies, regulations and operating conditions.

For founders, Naran offers an interesting lesson in building fintech around a tangible asset. The company is not simply providing credit. It is connecting financing, vehicles, software and mobility platforms into one ecosystem.

The $10 million Landel investment gives Naran the capital to test whether that model can scale across multiple emerging markets.

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