Planet42

Planet42, with its slogan "Access to mobility for the underbanked," is a pioneering startup founded in 2017 that aims to make car ownership accessible to people in South Africa and Mexico. The company addresses the gap in financing for underbanked individuals, even those with steady jobs, by facilitating a rent-to-buy subscription model with the flexibility to purchase the car outright at any stage.

This innovative approach not only empowers individuals by enhancing their mobility but also presents a lucrative opportunity in emerging markets. With its headquarters in South Africa, Planet42 continues to grow its impact and received a significant boost with an $8.00M Early VC investment from Standard Bank on 01 March 2024. This strategic partnership underscores the confidence investors have in Planet42's mission and scalability potential in transforming mobility access for underserved communities.