NeoFleet Capital, a global investment and technology platform financing professional taxi fleets, has raised $4 million in pre-seed funding. Mark Loughran, former President and CFO of the global ride-hailing operator inDrive, backed the round alongside other private investors and has 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.
The company has developed a Fleet Management Franchise model that combines vehicle financing, fleet management technology, operations and maintenance, and insurance solutions. NeoFleet estimates the global mobility fleet asset class at over $500 billion today.
Professional fleet operators currently manage an estimated 20–30% of the world’s taxis, according to NeoFleet Capital. The shift toward autonomous vehicles could drive that share close to 100%, as the absence of a driver does not remove the need to finance, insure, clean, charge, maintain, repair, reposition, and maximize the uptime of each vehicle.
Goldman Sachs Research forecasts that the global commercial robotaxi market alone could reach roughly $415 billion by 2035 with a fleet of around six million vehicles. NeoFleet believes this growth will also create a much larger institutional asset class around mobility infrastructure.
"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."
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, representing an estimated $75–100 million in vehicle value. That expansion is intended to establish the operating, financing, and technology infrastructure required for NeoFleet’s longer-term ambition: becoming a major global capital and fleet-management platform for both human-driven and autonomous mobility.
