News

South African car subscription service Planet42 raises $100M equity, debt

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. According to the company, the new financing, comprised of equity, credit facility and debt, will rapidly scale its business and provide a million cars globally to people excluded from traditional car financing.