South Africa's Planet42 Gets $30m for Its Car Subscription Service, Mexico Expansion

By Tage Kene-Okafor

Planet42, a South Africa-based car subscription company that buys used cars from dealerships and rents to customers via a subscription model, has raised $30 million in equity and debt.

The investment -- which co-founder and CEO Eerik Oja called a bridge round -- is a prequel to a larger Series A round next year. It comprises $6 million equity and $24 million in debt financing.

This article originally appeared on TechCrunch

Photo: Planet42