Ellis, Naran and Model ML Secure Fresh Fintech Backing

Recent fintech funding is flowing into businesses that modernise the operating core of finance rather than only consumer apps. Ellis, built by Cadre founder Ryan Williams, consolidates private-credit administration and servicing; Naran, founded by former Yango employees, finances rent-to-own vehicles for underbanked gig workers; and Model ML automates research, due diligence and document production for financial institutions. The mix underscores investor demand for AI-led efficiency and infrastructure that can broaden access to credit.

FinTech Futures said in its Aug. 14, 2026, roundup that Ellis raised more than $10 million in a seed round led by First Round Capital, while Dubai-based Naran secured $10 million in equity and debt financing from Landel. Model ML received an undisclosed investment from HSBC Asset Management’s Venture Capital strategy, lifting its total funding above $100 million. That tally includes a $75 million Series A completed in November 2025.