million verified professionals across 35 million companies. Planet42, a South Africa-based car subscription company that buys used cars from dealerships and rents to customers via a subscription model, has raised $30 million in equity and debt. But it would be more accurate to describe Planet42 as a new form of car subscription that has the mission of democratizing mobility at its core. For large custom estate . The deposit for a car subscription is usually much more affordable. Car subscriptions are more flexible. #2. Launching now in Mexico . (business & personal). The company was founded in 2017 and is based in Johannesburg, South Africa. Unfortunately, your application was declined.We know circumstances continually change, so you are welcome to apply again in 2 months! Planet42 specialises in financial services. This includes contact and bank details, vehicle specifics and supporting documentation (copy of ID and driver's licence, 3 latest payslips and 3 months' bank statement) . To view Planet42s complete valuation and funding history, request access, To view Planet42s complete executive team members history, request access, To view Planet42s complete board members history, request access, Youre viewing 5 of 12 investors. Planet42 has 12 employees. View contacts for Planet42 to access new leads and connect with decision-makers. Find out more about what drives us to democratise mobility. This, after it recently raised $30 million of equity and debt from investors like Naspers and Lendable. If you would like to customise your choices, click 'Manage privacy settings'. SaaS, Android, Cloud Computing, Medical Device), Operating Status of Organization e.g. However, for most of us, buying a car outright with cash is out of the question, and that is where banks are supposed to help people with financing. You have the option to buy out the car at any time for the buy-out price, which decreases every month. Nearby Recently Sold Homes. Planet42, formerly known as CarGet,is a car subscription company that buys used cars from dealerships and rents to customers via a subscription model. 20 were here. Car Subscription. SOLD MAR 7, 2023. This is because nearly all rental agreements have a very limited daily kilometre allowance, after which the driver begins racking up fees. The CB Insights tech market intelligence platform analyzes millions of data points on vendors, products, partnerships, and patents to help your team find their next technology solution. 's Products & Differentiators. "The BEST Car Show in Ventura County with classic to unique to cars from movies! Thank you Planet 42 I really appreciate everything you have done I am happy to recommend you to anyone who has a problem getting bank finance and really needs a car. Thank you for submitting your application!Your unique data is being processed, please wait. I am really impressed! Analyst Briefing Submitters are 7x more likely to receive a qualified connection. A flat-fee, monthly payment could cover everything from insurance to maintenance to warranty with the added bonus of being able to swap the car with relative ease. This means that the customer is not liable to pay the shortfall in the cars realisation value, which the bank would charge to the customer when the bank sells off a car that has been returned to them. Planet42, a South African founded car subscriptions start-up, has tripled its vehicle acquisitions over the last 12 months. Best of all, a car subscription allows you to get behind the wheel of your own car quickly and begin building good credit immediately by paying your monthly subscription payments on time . Looking for a particular Planet42 employee's phone or email? Edit Lists Featuring This Company Section, Planet42 Receives $75M in Debt Financing and Equity investment from Rivonia Road Capital, Estonian FinTech startup Planet42 secures $100M to scale affordable transportation, Financial Services Companies With More Than 50 Employees (Top 10K), FinTech Seed Stage Companies With More Than 10 Employees, South Africa Financial Services Companies. 1,700 Sq. Moove Africa was founded in 2019 and is based in Lagos, Nigeria. Location. The 3 most popular patent topics include: Wind turbine manufacturers, Wind turbines, Geotechnical engineering, Wind power, Offshore engineering, LOS ANGELES--(BUSINESS WIRE)--Rivonia Road Capital Provides $75M to Naspers-Backed Global Car Subscription Fintech Planet42. We buy the car and provide it in the form of a car subscription, as well as providing customers with a clear path to ownership. You can buy the car from us outright at any point the buy-out price decreases every month. We buy the car and provide it in the form of a car subscription, as well as providing customers with a clear path to ownership. Complete an application at one of the dealerships we have partnered with or online here. Get data-driven expert analysis from the CB Insights Intelligence Unit. You have the option to buy out the car at any time for the buy-out price, which decreases every month. You can read more about your. . From Rotary Club of Thousand Oaks: "This year the event is May 7th, 2023 from 12-5pm with the VIP Hour from 11am to 12pm. Gauteng, NA - South Africa, South Africa 51-100 Debt Financing Private planet42.com 4,667 Highlights Total Funding Amount $150.4M Contacts 8 Employee Profiles 4 Investors 11 Similar Companies 9 Seed ARS Holdings Find More Contacts for Planet42 Grant Wing COO Planet42 is a Financial Services company and has headquarters in South Africa. Founded by Marten Orgna and Eerik Oja, Planet42 targets individuals in emerging markets but has a presence only in Africa. Up until this point, most car subscriptions have focused on offering upper-tier vehicles to people with very high credit scores, and they charge a premium for the added flexibility and luxury features such as being able to swap cars on a regular basis. All you have to do is choose the one you like. If you have been turned down for vehicle finance and are looking to improve your mobility by getting your own car, you can apply on the Planet42 website right now. Lorem ipsum dolor sit, amet consectetur adipisicing elit. Planet42 rent-to-buy car subscription Struggling to get a car? All rights reserved. $150.2M over 7 Rounds (Latest Funding Type: Debt Financing), https://www.linkedin.com/in/grant-mark-wing/. Is insurance and maintenance included in the subscription? Planet42 is backed byNaspers Foundry, Naspers, ARS Holdings, Lendable, Rivonia Road Capital, Change Ventures, Startup Wise Guys, Martin Villig (Bolt), Ragnar Sass (Pipedrive), and others. Ensure that your company and products are accurately represented on our platform. Thank you for submitting your application! PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. Quality Pre -Owned Vehicles Trade Ins welcome We offer Finance at all major Banks including varie Have the freedom of driving a car with Planet42 rent-to-buy car subscription Apply for a car Rent to Buy Application Get a preliminary decision in less than 60 seconds! A more fundamental issue is that if you do any significant mileage, then the renting model becomes much more expensive than a car subscription. In contrast, car subscriptions usually have insurance included in the monthly subscription payment. We, TechCrunch, are part of the Yahoo family of brands. Also, the company has delivered 250 cars to customers Mexico last year. Planet42, a South Africa-based car subscription company that buys used cars from dealerships and rents to customers via a subscription model, has raised $100 million in equity and debt from a wide . Planet42 is a vehicle rental company offering rent-to-buy services for its clients. CB Insights Intelligence Analysts have mentioned Planet42 in 1 CB Insights research brief, most recently on Mar 21, 2022. 3,783 talking about this. Also, the company has delivered 250 cars to customers Mexico last year. Planet42 specialises in financial services. It has purchased 10 000 cars since its . Planet42. Up to 5 Planet42s approval algorithms provide a fair, quick, and simple picture of the financial situations of people that have been unfairly passed over by banks. free lookups / month. 26,349. Most of our employees are South African. Planet42 is democratising mobility by enabling people ignored by banks to get access to a personal vehicle through car subscription service. Planet 42 is now one of the single biggest clients for used car dealers in South Africa, having bought well over 2,000 cars from over 300 dealers as reported here. See the exclusive by @business bloomberg.com Naspers Backs Rent-to-Buy a Car Firm in $100 Million Deal Planet42 has purchased over 5,000 vehicles in the African country in the last 12 months. Planet42 is democratising access to mobility by offering car subscription for people unfairly ignored Planet42 Thank you for submitting your application! . Get contact details including emails and phone numbers Determining the Best Car for Your Budget, Customer care contact hours : Monday Friday 09:00 17:30. Breast Ultrasound Screening Coming Direct to You! Moove competitors include Autochek, FlexClub, Planet42, and Drover. And with its algorithms, customers can find out what budget suits them and choose new or pre-owned cars from Planet42s dealership network. authenticate users, apply security measures, and prevent spam and abuse, and, display personalised ads and content based on interest profiles, measure the effectiveness of personalised ads and content, and, develop and improve our products and services. Unfortunately, your application was declined. Upon approval, customers can access any new or pre-owned car from its network of over 700 almost 1,000 dealerships. It rents cars for young people and for drivers of urban mobility apps. My approval was fast and payments affordable. Electronica Finsmart Solutions Private Limited, List Of Financial Service Companies In USA, List Of Financial Service Companies In India, List Of Financial Service Companies In Detroit, List Of Financial Service Companies In Atlanta, List Of Financial Service Companies In Houston, List Of Financial Service Companies In San Jose, List Of Financial Service Companies In Dallas, List Of Financial Service Companies In Las Vegas, List Of Financial Service Companies In Miami. "This year the event is May 7th, 2023 from 12-5pm with the VIP Hour from 11am to 12pm. our sites and services. Please refer to the link to obtain further information on our privacy policy. 4 legal parcels with 3 graded Lots. Planet42 New Rent-to-buy Car Subscription Service. Southeast Ventura County YMCA National Day of Prayer Breakfast, Skirball Center 'Peter Krasnow: Breathing Joy & Light' Exhibit 2023: Los Angeles, A Victorian Celebration - Coronation Day at the INN May 6th, Chili Cook-Off, Car Show & Craft Brew Festival 2023: Thousand Oaks. Planet42's approval algorithms provide a fair, quick, and simple picture of the financial situations of people that have been unfairly passed over by banks. 4 Beds. Win whats next. Planet42 buys the car from OPS Cars and rents it to you. The applicant gives consent to Planet42 to use his/her personal information for the marketing and promotion of Planet42 or third party goods and services. Planet42 is a completely new way to become a car owner. What are the activation fees or deposits involved? The applicant confirms that the information supplied is correct. Upon approval, customers can access any new or pre-owned car from its network of over 700 almost 1,000 dealerships. Planet42 is democratising mobility by enabling people unfairly ignored by banks to get access to a personal vehicle with its socially inclusive car subscription. Planet42 claimed to have distributed more than 7,000 cars to customers in South Africa. Rivonia Road Capital Provides $75M to Naspers-Backed Global Car Subscription Fintech Planet42, Planet42Receives $75M in Debt Financing and Equity investment from Rivonia Road Capital, Planet42 Receives $75M in Debt Financing and Equity investment from Rivonia Road Capital, Rent-to-Buy Firm Planet42 Gets $100M to Grow in South Africa, Open Shop in Mexico, South African Vehicle Rental Startup Planet42 Raises $100M For Its Car Renting Business. You drive the car and make monthly payments to Planet42. Anything longer than that and a car subscription is likely to be the better choice. Planet42 claimed to have distributed more than 7,000 cars to customers in South Africa. Planet42 hasbought more than 12,000 cars for its customers in South Africa and Mexico. The South African Automotive Industry: Which Car is Made in South Africa? Once you do that we'll get back to you within 24 hours with our final decision. PAIA policy; Corporate About us and contact; List of Dealers; Press The car subscription company champions people "unfairly ignored by banks". Competitors of Planet42 include Kovi and 3 more. Planet42's headquarters is located at Johannesburg. Many banks dont offer finance, even to qualified professionals with steady jobs. The company is headquartered in Johannesburg, South Africa, with offices inTallinn, Estonia and Mexico City. $1,250,000 Last Sold Price. Not only did I get a well running and great car from them, they excelled even higher than my expectations by helping me with relief during this unfortunate lockdown. Renting is a great choice for the short term if you need a car for a couple of days or weeks. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. By continuing to use this site you are consenting to these choices. The three-year old startup has so far bought and rented cars to over 2,000 customers in South Africa. I can really recommend this company. Understanding the differences between traditional car finance, renting, and subscribing to a car will help you decide which method is best for your needs. Depending on how you want to use the service, Planet42 could be both of those things. In addition, bank finance comes with many hidden fees that make the contract more expensive than the headline interest rate implies. Copyright 2023 CB Information Services, Inc. All rights reserved. Car subscription models have various allowances when it comes to vehicle usage, with some subscriptions such as Planet42 even granting unlimited usage in their terms. Planet42 is primarily a South African company. Need a Car on a Budget? As car-sharing services and app-based ride-hailing services began to put pressure on big brand dealerships, many of them scrambled to offer new incentives that would make it easy to stick with one brand. Show Check dealership list by province LoadingLoadingLoading Loading Loading loading.loading.loading LoadingLoadingLoading Loading Loading loading.loading.loading LoadingLoadingLoading Loading Loading "Now in our 46th year, the 2023 Chili Cook Off, Craft Brew Festival & Classic Car Show is poised to be our 'BEST EVER' with authentic craft breweries International Chili Society-sanctioned event. It aims to serve customers across the African market. Planet42 Car Rental TrustIndex: 5.7/10verified business this is a verified business TRUSTINDEX RATING 5.7 OUT OF 10 INDUSTRY RANKING Not enough reviews to calculate NET PROMOTER SCORE 8 TRUSTINDEX RATING 5.7 OUT OF 10 INDUSTRY RANKING Not enough reviews to calculate NET PROMOTER SCORE 8 Reviews Company details Moove, a vehicle financing platform for Uber drivers, raises $105M in debt and equity. Planet42 Financial Services Access to mobility for the underbanked Follow See all 116 employees About us Planet42 is democratising access to mobility Website http://www.planet42.com. FlexClub has developed an online platform for owners to rent their vehicles to Uber Driver-partners. Active, Closed, Last funding round type (e.g. You drive the car and make monthly payments to Planet42, but OPS Cars facilitates the whole process for you. Planet42 does not sell cars, they provide a rent-to-buy solution for a vehicle which is purchased from a dealer on your behalf. Planet42 analyses the customer's validation documents, such as IDs, payslips, and bank statements before purchasing the car from the dealership and renting it to the customer. Planet42's products include Car Subscription. We buy cars from South African dealerships, for South African people. Car Dealers | Rent to Own Cars | Planet42 Car Dealers We have signed up over 700 car dealers across the country, find out the closest to you. Nearby homes similar to 2306 Terrace Ln have recently sold between $485K to $5M at an average of $580 per square foot. Even though the founders are originally from Estonia, Planet42 is very much a South African business. It lets users rent cars by the hour, days, or more through an application. . Planet42: Contact Details and Business Profile Company Information Email Format Management Planet42 Information Provider of rent-to-buy automotive services intended to provide long-term vehicles at rent without paying the full financing cost. Planet42 uses proprietary scoring algorithms to assess risk in underbanked customer segments. So what could owning a car give you? It uses a scoring algorithm to process client applications based on the credit bureau, affordability, and alternative data. {{ userNotificationState.getAlertCount('bell') }}. Search over 700 Compete with Planet42 or in another space? The applicant hereby gives consent to Planet42 to make enquiries about his/her credit record, obtain whatever information on him/her that may be required to process this application. Not everyone will be able to put down more than R10 000 on a credit card to get access to a rental car. Car subscriptions first began as an extension of luxury dealerships trying to hold on to customers, and from there branched out to an app-based model that was supported by a group of new tech startups. . The company raised$100M in a new debt and equity financing round on Feb 22, 2023. CBI websites generally use certain cookies to enable better interactions with. CBI websites generally use certain cookies to enable better interactions with our sites and services. This means that tens of thousands of vehicles are available for financing through Planet42. Planet42 Managing Director Grant Wing (Image source: Planet42) According to Mordor Intelligence's Car Rental Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027) report, the global car rental market was worth $119.28 billion in 2021 and is expected to reach $223.07 billion by 2027 with a cumulative annual growth rate . Wrote the vehicle off revently. Investors of Planet42 include Rivonia Road Capital, Naspers, ARS Holdings, Martin Villig, Change Ventures and 8 more. Bank finance agreements have much less flexibility, locking in the customer for as long as 72 months and typically also have a high balloon payment at the end of the contract term, which most customers cannot afford. The secured funds [comprising $6 million equity and $24 million in debt financing] will be used to expand Planet42's car inventory in both South Africa and Mexico, putting the company on track to achieve its ambitious global goal of providing 1 million cars to people facing transport inequality by 2025. Aside from hefty contract origination charges, these hidden fees also include comprehensive insurance, which the customer cannot opt out of. "A FREE Kid Zone featuring bounce houses, obstacle courses, giant slide, face painting and more activities! Its that simple. For instance, Planet42 asks for a minimum commitment of 6 months, after which time the customer can return the car at any time for a nominal fee. So I have a client we insure. Because there are so many different car subscription models and each one has its own terms and conditions, there are a number of questions that you should ask yourself before deciding which one works best for you: Planet42 says that 93% of their customers had previously been rejected by a bank or simply would not have had any chance at approval. 46th Annual Chili Cook-Off, Car Show & Craft Brew Festival, Conejo Creek North,1379 E. Janss Road,Thousand Oaks,CA. May 26, 2021. Vai.Car offers a digital car rental application service. The algorithms aim to determine a suitable budget for each customer and, based on this, subscribers to Planet42 can choose any new or pre-owned car from Planet42's network of more than 700 car . Gauteng, NA - South Africa, South Africa. Planet42 provides a mobility finance platform offering customers access to personal vehicles. Then theyll submit the application on your behalf. Once you do that we'll get back to you within 24 hours with our final decision. Tallinn, Harjumaa, Estonia. Thank you for submitting your application!Your unique data is being processed, please wait. Turbi is a car-sharing platform. But we do. Car subscriptions globally have been targeted at the wealthy and the young, who have no desire to visit a car dealership or hassle with insurance and registration. We have signed up over 800 car dealers across the country, find out the closest to you. Get the full list, Morningstar Institutional Equity Research, Chief Operating Officer & Managing Director. Agreement amount was R512 000. Sign up for a free account. Unfortunately, your application was declined. It is now betting on scaling operations and possibly expanding to other emerging markets . For Sale: 29500 Mulholland Hwy, Agoura Hills, CA 91301 $1,600,000 MLS# FR22006801 7 acres on Mulholland Highway near Malibou Lake. Planet42 has 12 employees. Planet42 key technologies used on the website. The market value for this residential property was estimated at $859,575. Planet42 has raised US$100 million of equity and debt to accelerate global expansion led by Naspers and ARS Holdings with participation from existing and new investors, including Rivonia Road Capital. Overview Top Contacts Similar Company Technology Stack FAQs Planet42 overview Planet42 top contacts Planet42 technology stack Planet42 key technologies used on the website. Customer care contact hours : Monday Friday 09:00 17:30. "This funding is further proof that we . Autochek is an online marketplace for car sales. Seed, Series A, Private Equity), Alternate or previous names for the organization, Whether an Organization is for profit or non-profit, General contact email for the organization. Planet42 is democratizing mobility by enabling people ignored by banks to get access to a personal vehicle. But what do you do if the banks reject your application for car financing, as they do for the overwhelming majority of people that apply for a loan in South Africa? How Planet42 works differently than most car subscriptions. Planet42's latest funding round is Series B. For starters, getting a rental car usually comes with a very high deposit requirement. The approval process takes less than one minute, and the selection of vehicles is unparalleled. Ft. 29332 Deep Shadow Dr, Agoura Hills, CA 91301. 2023 PitchBook. You can change your choices at any time by clicking on the 'Privacy dashboard' links on our sites and apps. Planet42 is a vehicle rental company offering rent-to-buy services for its clients. This brings Planet42's total funding to $150.2M to date. Become our dealer and join us on our mission. The investment which co-founder and CEO Eerik Oja called a bridge round is a prequel to a larger Series A round next year. All information is treated as confidential. We want car ownership to be available to everyone in South Africa who can afford it, not just the fortunate few favoured by the banks. A car subscription may sound similar to bank finance, but there are important differences. Planet42 has purchased over 5,000 vehicles in the African country in the last 12 months. The company has bought nearly 3,000 cars in South Africa and plans to . Customers are free to choose from thousands of cars at partner dealerships, or, alternatively, they can get pre-approved through the Planet42 website and then shop anywhere for a car within their budget. The company uses an automated scoring algorithm to process client applications based on the credit bureau, affordability, and alternative data. SOLD APR 12, 2023. Planet42 headquarters is in South Africa. We have partnered with more than 700 dealerships in South Africa. Owning a car is more than a symbol of freedom; it is a life-changing asset that unlocks better career, educational and recreational opportunities and brings people closer together. It orchestrates multi-modal trip planning, payment, and fulfillment with one seamless experience. Planet42 has bought cars for more than 3000 South Africans so far. Planet42 stood by me throughout this very difficult period I am truly appreciative of their efforts and their humane approach. Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces. It analyses the customers validation documents, such as identifications (IDs), payslips, and bank statements, before purchasing the car from the dealership and renting it to the customer. Learn more. Lorem ipsum dolor sit amet consectetur adipisicing elit. You find the car, we buy it for you. Planet42 is in financial services sector. Car subscriptions started in 2010, when a car dealership in Hawaii started offering a service that allowed customers to pay a monthly fee in exchange for a high degree of flexibility and support in driving a personal vehicle. "This year we will have 3 stages of LIVE music, where we try to find the best local musicians to showcase their talents. Planet42 was founded in Estonia in 2017 by Eerik Oja and Marten Orgna. Buy. "Now in our . Meanwhile you can start looking for your new car. Use of these cookies, which may be stored on your device, permits us to improve and customize your experience. Once you sign the contract and get your car, you make one monthly payment to us, which includes insurance and a tracker device. Contact Information Website www.planet42.com Formerly Known As CarGet Ownership Status Privately Held (backing) Financing Status Venture Capital-Backed Primary Industry Automotive Other Industries Media and Information Services (B2B) Primary Office Post Office Box 26403 Monument Park Pretoria, Gauteng 0105 South Africa Planet42 Timeline Total amount raised across all funding rounds, Total number of Crunchbase contacts associated with this organization, Total number of employee profiles an organization has on Crunchbase, Total number of investment firms and individual investors, Total number of organizations similar to the given organization, Descriptive keyword for an Organization (e.g. Get a preliminary decision in less than 60 seconds! With your application approved, we buy the car of your choice from the dealership and then rent it to you on a subscription basis. The Planet42 team is passionate about democratizing mobility in South Africa. With the onset of the Covid-19 pandemic, consumer habits have gravitated towards flexibility and convenience, which is why the subscription model has become widely adopted by car manufacturers and tech startups. Planet42 has bought more than 12,000 cars for its customers in South Africa and Mexico. The company leverages technology to mitigate risk and promote financial inclusion by buying second-hand cars from a network of motor dealers and providing them to customers on a subscription basis, without the need to physically see the car. Unfortunately, your application was declined.We know circumstances continually change, so you are welcome to apply again in 2 months! Providing you with the latest motoring news, new car releases and the simplest way to buy and sell cars.

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