Founded Year

2017

Stage

Series A | Alive

Total Raised

$42.4M

Last Raised

$6M | 8 mos ago

About Planet42

Planet42 uses a scoring algorithm to process client applications based on credit bureau, affordability, and alternative data. If the application is approved, the business then 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 Headquarter Location

Johannesburg,

South Africa

Planet42's Product Videos

Planet42 Car sub Purchase process.png

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Planet42's Products & Differentiation

See Planet42's products and how their products differentiate from alternatives and competitors

  • Car Subscription

    Upon approval, customers can access any new or pre-owned car from its network of over 700 almost 1,000 dealerships. 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.

Research containing Planet42

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CB Insights Intelligence Analysts have mentioned Planet42 in 1 CB Insights research brief, most recently on Mar 21, 2022.

Expert Collections containing Planet42

Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.

Planet42 is included in 1 Expert Collection, including Fintech.

F

Fintech

3,392 items

Excludes US-based companies

Latest Planet42 News

South African Startup Planet42 Raises USD 30 Mn Funding For Expansion

Dec 29, 2021

South African car subscription startup Planet42 has raised USD 30 Mn in debt and equity funding to drive its international expansion, with its first cars already on the road in Mexico. The USD 6 Mn equity round was led by Naspers, with existing investors Change Ventures and Startup Wise Guys also participating alongside unicorn founders like Martin and Markus Villig (Bolt) and Ragnar Sass (Pipedrive). Existing debt investors, such as Lendable , added USD 24 Mn. Planet42 partners with dealerships across South Africa to offer access to a personal car to its largely underbanked clientele. The startup uses an automated scoring algorithm to process client applications based on the credit bureau, affordability, and alternative data. If the application is approved, Planet42 analyses the customer’s validation documents before purchasing the car from the dealership and renting it to the customer. The asset is secured with tracking technology, as well as comprehensive and mechanical insurance.

Planet42 Web Traffic

Rank
Page Views per User (PVPU)
Page Views per Million (PVPM)
Reach per Million (RPM)
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Planet42 Rank

  • When was Planet42 founded?

    Planet42 was founded in 2017.

  • Where is Planet42's headquarters?

    Planet42's headquarters is located at Johannesburg.

  • What is Planet42's latest funding round?

    Planet42's latest funding round is Series A.

  • How much did Planet42 raise?

    Planet42 raised a total of $42.4M.

  • Who are the investors of Planet42?

    Investors of Planet42 include Change Ventures, Ragnar Sass, Lendable, Martin Villig, Naspers and 6 more.

  • Who are Planet42's competitors?

    Competitors of Planet42 include Moove Africa and 3 more.

  • What products does Planet42 offer?

    Planet42's products include Car Subscription.

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