A South Africa-based mobility startup that helps customers rent cars monthly has raised $10 million ...Middle East

Quartz - Economy
A South Africa-based mobility startup that helps customers rent cars monthly has raised $10 million
source : Quartz ( Middle East ) () 28
The effects of the lack of access of credit for a majority of middle-class Africans show up in different ways.One of those is that vehicle financing is typically beyond the reach of most middle-income earners who have to resort to saving for months for the large upfront costs of buying a car. It’s a different reality in most developed markets where car financing options are more readily available from traditional financial institutions.Planet42, a car subscription company with Estonian roots, has operated in South Africa for three years by offering a workaround that allows its customers skip the initial financial outlay of car ownership and renting cars on a monthly basis instead. With a not

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