NeoFleet, a Cyprus-registered mobility finance firm that operates in Senegal, Côte d’Ivoire and Peru, announced a pre-seed round that brought in $4 million to broaden its professional taxi fleet financing model and lay the groundwork for autonomous mobility services. The round was led by DMTech VC, a venture fund that concentrates on fintech and asset-backed finance, and included participation from other private investors. Mark Loughran, who previously served as president and chief financial officer of the ride-hailing platform inDrive, joined the financing round and took on the role of president and co-founder at the company. The capital package blends equity with debt components.
Funding Addresses Vehicle Financing Gap
Professional taxi drivers in many emerging markets face difficulty securing vehicle financing, a problem NeoFleet seeks to remedy. In Sub-Saharan Africa, vehicle prices sit roughly 8% above the global average, with a vehicle-price index of 107.74 versus a world benchmark of 100, based on 2021 World Bank data. The firm targets drivers and small operators who cannot obtain conventional loans for acquiring cars. Loughran highlighted that the business plugs a structural void where “people need rides, drivers want to work, and capital is the missing piece to put more cars on the road.”
Read Also: African entrepreneurs expand prediction markets
The enterprise was founded in 2024 by Igor Shiyanov and Oleg Mosyazh. As of October 2026, the organization reports a fleet of 650 vehicles valued at around $10 million. The venture emerged after its founders recognized that banks often lack credit models and risk appetite for taxi fleets, which restricts operators’ ability to raise expansion capital. Shiyanov explained to a local outlet that NeoFleet bridges this gap by supplying the needed funds and by creating a platform that lets institutional investors tap the taxi asset class at scale.
Expansion Plans and Business Model
With the newly secured capital, the company intends to broaden its footprint and add new markets to its portfolio. It aims to reach a total of 1,000 vehicles in its network by the close of 2026 and to grow that number to 5,000 by 2027, a scale that would correspond to a vehicle-value range of $75 million to $100 million. Its Fleet Management Franchise model weaves together vehicle financing, fleet-management technology, operational support, maintenance services and insurance coverage. The team is also building tools for driver scoring, telematics, vehicle monitoring, maintenance scheduling and payment control.
The firm adopts flexible ownership structures that suit local market conditions. In some cases, it provides secured financing to established operators who retain ownership of the cars; in other instances, the company purchases the vehicles itself and then leases them to local drivers. Instalment-sale arrangements let fleet operators acquire assets while paying over an agreed period. Customers are chiefly professional taxi and ride-hailing fleet operators that lack access to traditional bank loans. Revenue streams flow from interest and financing fees, rental income, and future software and maintenance services.
Read Also: African Startups Struggle to Deliver Returns to Investors
Preparing for Autonomous Mobility
NeoFleet faces competition from larger players such as Moove and Autochek, yet its long-term vision centers on building infrastructure for autonomous vehicles. The company believes that today’s taxi fleet management systems will become essential for driver-less fleets, which will still require financing, insurance, charging, maintenance and monitoring even after the removal of human drivers. Shiyanov stated that “autonomous mobility will be one of the most important structural shifts in transportation,” and that early market preparation will determine future advantage.
The organization is assessing opportunities in more than 15 countries, with a focus on Latin America, Africa, Southeast Asia and the Middle East, while also keeping an eye on possible long-term entry into developed markets such as the United States, the United Kingdom and the European Union. Its immediate objective is to transform current operations into a platform that connects capital with mobility assets, ready to scale autonomous fleets in emerging economies. While continuing to grow in Senegal, Côte d’Ivoire and Peru, the firm’s short-term goal remains the construction of a scalable, technology-driven financing ecosystem that can adapt to evolving mobility trends.
