# Planet42

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/planet42

- Industry: Retail
- Headquarters: Pretoria, South Africa
- Website: https://planet42.com/za/
- Total disclosed funding: $2.5M
- Latest round: Seed (Jun 16, 2020)
- Investors on record: 2

## About

Based in Pretoria, South Africa, and founded in 2017 by Marten Orgna and Eerik Oja, Inclusion South Africa (Pty) Ltd, doing business as Planet42, operates as a developer of an online platform that allows users to rent cars and offers flexible monthly payment. The user can rent or avail of a car by filling up an application form at any dealer partnered with the company. In March 2024, Inclusion South Africa (Pty) Ltd raised ZAR 250 million in venture debt funding from Standard Bank Private Equity. The round was part of a larger ZAR 300 million equity and debt funding. 

Planet42 provides rent-to-buy automotive services intended to provide long-term vehicles at rent without paying the full financing cost. The company uses an automated scoring algorithm to process client applications based on the credit bureau, affordability, and alternative data. If the application is approved, Planet42 analyses the customer’s validation documents, such as IDs, payslips, and bank statements before purchasing the car from the dealership and renting it to the customer on a monthly basis. The asset is secured with tracking technology, as well as comprehensive and mechanical insurance. Planet42 bought and rented cars to over 2,000 customers in South Africa. In March 2024,Planet42 raised ZAR 250 million in venture debt funding from new investor Standard Bank Private Equity. The round was part of a larger ZAR 300 million equity and debt funding.

## Funding rounds

- Seed, Jun 16, 2020, $2.5M — Startup Wise Guys, Change Ventures

## Investors

- Startup Wise Guys (https://capitalatlas.ai/funds/startup-wise-guys) — Seed
- Change Ventures (https://capitalatlas.ai/funds/change-ventures) — Seed