NeoFleet Capital has raised $4 million in pre-seed funding to expand its vehicle financing and fleet management operations across emerging markets. Former inDrive president and chief financial officer Mark Loughran participated in the round and has joined NeoFleet Capital as president and co-founder.
Founded in Cyprus, NeoFleet finances and manages vehicle fleets for professional mobility operators and currently operates in Senegal, Côte d’Ivoire and Peru. Its model combines vehicle financing with fleet management technology, operations and maintenance, and insurance.
“We address a fundamental problem in many high-growth mobility markets: people need rides, drivers want to work, and capital is the missing piece to put more cars on the road,” explained Loughran.
NeoFleet Capital’s expansion plans
The proceeds of the $4 million round will be used to enter additional high-growth mobility markets across Africa, Latin America, and Asia. By the end of 2027, NeoFleet aims to support approximately 5,000 vehicles across its network.
“A vehicle generates income for a driver every day. This helps move them from poverty towards middle-income earnings, increases access to mobility for passengers, and ultimately supports the wider economy,” added Loughran. “At the same time, enormous pools of institutional capital are looking for attractive, asset-backed returns but have no scalable way of reaching these fragmented markets. NeoFleet is building the infrastructure that bridges that gap.”
