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. Its repayment terms range from 12 to 60 months, with vehicles purchased directly from manufacturers.
The company currently operates in Colombia, Peru, Senegal and Côte d’Ivoire. It plans to launch in Paraguay in September 2026, while using the new funding to expand its existing fleets, enter new markets including MENA, and develop additional fintech products.
Naran has built a fleet management platform covering driver onboarding, payment scheduling, vehicle utilisation, telematics and maintenance. The company said it plans to offer the technology to third-party fleet operators as a software-as-a-service product, alongside asset-backed financing for fleet expansion.
By 2030, Naran aims to operate in 10 countries, create 30,000 income opportunities, and deploy fleets of 10,000 cars and 20,000 motorcycles.
Source: Wamda
