Planet42
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| Private | |
| ISIN | 🆔 |
| Industry | Car rental and leasing |
| Founded 📆 | 2017 |
| Founder 👔 | Eerik Oja and Marten Orgna |
| Headquarters 🏙️ | , , |
Number of locations | South Africa, Mexico, Estonia |
Area served 🗺️ | |
Key people | Eerik Oja, CEO & co-founder; Marten Orgna, CFO & co-founder; Liisa Suvorova, Head of Growth; Grant Wing, COO; Alexander Thomas James, CRO |
| Owner | Eerik Oja and Marten Orgna, Naspers, Change Ventures, Startup Wise Guys, Lemonade Stand, angel investors, Lendable |
| Members | |
Number of employees | 60 |
| 🌐 Website | "https://planet42.com/"42.com/ Official website |
| 📇 Address | |
| 📞 telephone | |
Planet42 is an enterprise in emerging markets fighting transport inequality via a socially inclusive car subscription services for the underbanked or those who have had their credit applications rejected by the traditional credit providers.
History[edit]
Planet42 was founded in 2017 by Estonians Eerik Oja and Marten Orgna. Their first car in South Africa began rolling out in 2018. Initial funding of the business came from Estonian investors, including the venture funds Change Ventures and Startup Wise Guys. Subsequent funding has come from Naspers Ltd., one of the world’s largest technology investors.
Planet42 provides a solution for individuals with limited or impaired credit records and others unable to obtain finance for vehicle purchases. As at the end of 2021, Planet42 has provided car subscription services to over 7,000 people, 89% of whom would have been rejected by traditional credit providers.[1].
By 2021, Planet42 had raised a total of $50 million of debt and equity. The company is backed by Lendable, venture capital funds Change Ventures and Startup Wise Guys and unicorn founders Markus Villig (Bolt) and Ragnar Sass (Pipedrive). Subsequent funding has come from one of the world’s largest technology investors, Naspers Ltd’s subsidiary, Naspers Foundry.
In late 2021, Planet42 expanded its business to Mexico using the same business model. Since its inception, the company has bought 7,000 cars for its clients[2]
Planet42 is certified as a CarbonNeutral® company by Natural Capital Partners and has funded wind farms in South Africa[3][4]
References[edit]
- ↑ "South Africa's Planet42 gets $30M for its car subscription service, Mexico expansion". TechCrunch. Retrieved 20 January 2022.
- ↑ Writer, Staff (21 December 2021). "Naspers invests R54m in car subscription firm Planet42". ITWeb. Retrieved 20 January 2022.
- ↑ Suvorova, Liisa (17 September 2021). "The complexities of going green in emerging markets". Sustainability News. Retrieved 20 January 2022.
- ↑ Tena, Nomvuyo (22 April 2021). "Mobility company Africa's first to become carbon neutral". ESI-Africa.com. Retrieved 20 January 2022.
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