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NeoFleet Capital has raised a $4 million pre-seed round, mixing equity and debt, to expand taxi fleet financing across Africa and other emerging markets.
NeoFleet Capital has raised $4 million in a pre-seed round. The mobility fintech plans to grow its taxi fleet financing business across Africa and other emerging markets.
NeoFleet Capital raised a $4 million pre-seed round to expand its taxi fleet financing model and build infrastructure for autonomous mobility.
The round was a mix of equity and debt. Equity means selling a stake in the company. Debt means borrowing money that is repaid over time.
Former inDrive executive Mark Loughran backed the round and joined NeoFleet as president and co-founder. DMTech VC and other private investors also participated.
NeoFleet Capital was founded in 2024 by Igor Shiyanov and Oleg Mosyazh. The company funds and manages professional taxi and mobility fleets in emerging markets. It currently operates in Senegal, Côte d’Ivoire, and Peru.
NeoFleet says it has 650 vehicles in its network today. It plans to reach 1,000 vehicles by the end of 2026 and 5,000 by the end of 2027.
The company is also evaluating more than 15 countries for its next expansion phase. It expects to pick two to three new markets, with focus areas including Africa, Latin America, Southeast Asia, and the Middle East.
In West Africa, fleet and driver financing is already crowded. For example, Moove has scaled a model that supports large numbers of drivers. NeoFleet says it is different because it finances local organisations that already run taxi fleets, instead of managing thousands of independent drivers directly.
Taxi operators often struggle to access vehicle financing, insurance, and maintenance at predictable costs. Fleet financing models can reduce downtime and improve earnings by bundling capital with operations.
NeoFleet’s focus on corporate fleet operators could make expansion faster in markets where professional fleet owners already exist. If its autonomous mobility plans progress, it may also position the company to finance and manage mixed fleets where human-driven and self-driving vehicles operate side by side.
Primary Source: Condia
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