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Naran secured $10 million through a combination of equity and debt financing from Landel to expand vehicle and motorcycle financing for ride-hailing and delivery drivers in Latin America and Africa. The company plans to enter the Middle East and North Africa region and make its fleet-management platform available to third-party operators.
Naran, a mobility financing and fleet management company, has raised $10 million in a combination of debt and equity financing from Emirati investment firm Landel. The company will use the funds to expand its fleets in existing markets, enter new markets including the Middle East and North Africa, and launch new fintech products.