Equity and debt financing · Fintech
Naran raises $10m in equity and debt for mobility financing
Landel is backing a vehicle-financing business that aims to serve other fleet operators as well as individual drivers.
Beyond the company’s own fleet
Naran plans to make its internal fleet-management technology available to other operators as a software service. It also intends to provide asset-backed financing and consider acquisitions where the economics support them.
Repayment data supports the next products
Each driver contract generates a repayment record alongside the financed vehicle. Naran sees that combination of collateral and payment history as the foundation for a broader set of financial products.
Use of funds
Expand vehicle fleets across current markets
Enter additional markets including MENA
Roll out new financial products
Funding history
Equity and debt financing · This round$10M