Limassol-based NeoFleet Capital, an investment and technology platform that helps finance professional taxi fleets, has raised €3.5 million in pre-Seed funding.

The round was backed by Mark Loughran, former President and CFO of global ride-hailing company inDrive, along with other private investors. Loughran has also joined NeoFleet Capital as President and co-founder.

“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 Mark Loughran, President and co-founder of NeoFleet Capital.

Founded in Cyprus in 2024, NeoFleet Capital finances and manages vehicle fleets for professional mobility companies in emerging markets. The company currently operates in Senegal, Côte d’Ivoire, and Peru.

NeoFleet has developed a Fleet Management Franchise model that brings together vehicle financing, fleet management software, operations and maintenance, and insurance services. The company estimates that the global mobility fleet market is worth more than €445 billion today.

“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. 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,” added Loughran.

NeoFleet Capital plans to use the new funding to expand into more fast-growing mobility markets across Africa, Latin America, and Asia.

By the end of 2027, the company aims to support around 5,000 vehicles across its network. These vehicles are expected to have a combined value of around €65 million to €87 million.