Understanding the differences between traditional car finance, renting, and subscribing to a car will help you decide which method is best for your needs. Planet42 claimed to have distributed more than 7,000 cars to customers in South Africa. 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. 20 were here. Learn more. PitchBooks non-financial metrics help you gauge a companys traction and growth using web presence and social reach. free lookups / month. our sites and services. The company has bought nearly 3,000 cars in South Africa and plans to . 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. 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. Moove competitors include Autochek, FlexClub, Planet42, and Drover. Its that simple. Planet42 headquarters is in South Africa. 4 Beds. Unfortunately, your application was declined.We know circumstances continually change, so you are welcome to apply again in 2 months! It rents cars for young people and for drivers of urban mobility apps. 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. Even though the founders are originally from Estonia, Planet42 is very much a South African business. This means that tens of thousands of vehicles are available for financing through Planet42. It was founded in 2016 and is based in Sao Paolo, Brazil. The market value for this residential property was estimated at $859,575. If youre looking to get behind the wheel quickly, check them out today! "100% of our PROFITS go to benefit local charities that are providing services to our Conejo Valley community. Planet42 is a completely new way to become a car owner. I am really impressed! Car subscriptions are more flexible. Planet42's headquarters is located at Johannesburg. Autochek is an online marketplace for car sales. Find out more about how we use your personal data in our privacy policy and cookie policy. 3,783 talking about this. . Is insurance and maintenance included in the subscription? What are the activation fees or deposits involved? The three-year old startup has so far bought and rented cars to over 2,000 customers in South Africa. This, after it recently raised $30 million of equity and debt from investors like Naspers and Lendable. Active, Closed, Last funding round type (e.g. Launching now in Mexico . Turbi is a car-sharing platform. Planet42 Funding, Investor and Contact Details. Become our dealer and join us on our mission. Planet42 has purchased over 5,000 vehicles in the African country in the last 12 months. . 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. Thank you for submitting your application! Car Subscription. "A FREE Kid Zone featuring bounce houses, obstacle courses, giant slide, face painting and more activities! Get contact details including emails and phone numbers See the exclusive by @business bloomberg.com Naspers Backs Rent-to-Buy a Car Firm in $100 Million Deal . 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. PARTNERED CONTENT. Agreement amount was R512 000. You can change your choices at any time by clicking on the 'Privacy dashboard' links on our sites and apps. Determining the Best Car for Your Budget, Customer care contact hours : Monday Friday 09:00 17:30. 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. A car subscription may sound similar to bank finance, but there are important differences. "We are ran by 100% VOLUNTEERS. By continuing to use this site you are consenting to these choices. It aims to serve customers across the African market. Planet42 is democratizing mobility by enabling people ignored by banks to get access to a personal vehicle. Depending on how you want to use the service, Planet42 could be both of those things. 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. "This year the event is May 7th, 2023 from 12-5pm with the VIP Hour from 11am to 12pm. Planet42 is democratising mobility by enabling people ignored by banks to get access to a personal vehicle through car subscription service. We buy cars from South African dealerships, for South African people. Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces. For Sale: 29500 Mulholland Hwy, Agoura Hills, CA 91301 $1,600,000 MLS# FR22006801 7 acres on Mulholland Highway near Malibou Lake. Anything longer than that and a car subscription is likely to be the better choice. How Planet42 works differently than most car subscriptions. 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. 's Products & Differentiators. The investment which co-founder and CEO Eerik Oja called a bridge round is a prequel to a larger Series A round next year. 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. 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. 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. South Africa is playing catch-up, and there is still a lot of confusion about what exactly a car subscription entails. So I have a client we insure. The company's services include analyzing the customer's validation documents, such as IDs, payslips, and bank statements before purchasing the used car from the dealership and renting it to the client for monthly rental payments, enabling clients to get rental cars at affordable rates. If you would like to customise your choices, click 'Manage privacy settings'. The applicant confirms that the information supplied is correct. 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. A more fundamental issue is that if you do any significant mileage, then the renting model becomes much more expensive than a car subscription. 26,349. Planet42 specialises in financial services. 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 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? And with its algorithms, customers can find out what budget suits them and choose new or pre-owned cars from Planet42s dealership network. 4 legal parcels with 3 graded Lots. SaaS, Android, Cloud Computing, Medical Device), Operating Status of Organization e.g. $150.2M over 7 Rounds (Latest Funding Type: Debt Financing), https://www.linkedin.com/in/grant-mark-wing/. It is now betting on scaling operations and possibly expanding to other emerging markets . It has purchased 10 000 cars since its . My approval was fast and payments affordable. We've delivered more than 15,000 cars to customers in South Africa who would not have a car without us. The company raised$100M in a new debt and equity financing round on Feb 22, 2023. With your application approved, we buy the car of your choice from the dealership and then rent it to you on a subscription basis. Unfortunately, your application was declined. Planet42 is a Financial Services company and has headquarters in South Africa. 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. Conejo Creek North, 1379 E. Janss Road, Thousand Oaks, CA. 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. The car subscription company champions people "unfairly ignored by banks". Planet42 is democratising mobility by enabling people ignored by banks to get access to a personal vehicle through car subscription service. Planet42, a South African founded car subscriptions start-up, has tripled its vehicle acquisitions over the last 12 months. As an Accredited Dealer with Planet42 Kent Motors is able to submit your application and upon approval sell you a vehicle according to your qualification criteria. Our expenses are the lowest of any fundraiser fo this size ran in Ventura and Los Angeles County due to the amazing volunteers that work all day to put on this AMAZING historic community event. Win whats next. 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. Moove, a vehicle financing platform for Uber drivers, raises $105M in debt and equity. Renting is a great choice for the short term if you need a car for a couple of days or weeks. site you are consenting to these choices. The company was founded in 2017 and is based in Johannesburg, South Africa. 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. 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 . 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