Planet42 Stock

planet42.comTransportationFounded: 2017

Planet42 is a South African-based company that enables people to access personal vehicles when they have been unable to finance a vehicle through traditional financing. Customers apply for a vehicle, Planet42 reviews the application and if approved, the company purchases a vehicle on behalf of the customer and rents it to the customer on a subscription basis. Customers can choose to purchase the vehicle from Planet42 at any time for the buy-out price, which gets lower every month.

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Planet42 investors also invested in these private companies

Naspers
ARS Holdings
Rivonia Road Capital
Alesco Ventures
Lemonade Stand
Change Ventures
Startup Wise Guys

Team

Management Team

Eerik Oja
Co-Founder & Chief Executive Officer
Marten Orgna
Co-Founder & Chief Financial Officer
Grant Wing
Chief Operating Officer & Managing Director

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News

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 range of investors.
Naspers Ltd., an early investor in China’s Tencent and still its largest shareholder, is backing rent-to-buy car firm Planet42 in a $100 million debt and equity fund-raising.