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.
Naspers, through its early-stage investment vehicle, Naspers Foundry, co-led the $15 million equity round (the SA-based investor also led Planet42’s previous $30 million round in late 2021) alongside ARS Holdings. The equity round welcomed participation from existing and new shareholders, including Rivonia Road Capital; the Los Angeles-based global alternative asset manager provid

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