FlexClub is an online marketplace that connects customers to flexible long-term car subscriptions, offering a hybrid of short- and long-term leases with all-inclusive monthly fees. Subscribers can cancel, switch cars, or purchase vehicles; drivers earn points for safe driving that reduce purchase prices. The company uses banking, credit bureau and identity data to assess member risk and to protect partners’ exposure. It began by serving ride-hailing drivers (commercial members) and has opened the product to private members, partnering with platforms like Uber and rental company Avis, plus small and multinational fleet owners. Founded in 2019 and launched in South Africa, FlexClub expanded to Mexico and says it may pursue other emerging markets over time. The company raised a $5M seed extension (equity and debt) to improve its technology and risk protections, bringing total funding to over $6M. FlexClub operates a platform that matches investors to cars and connects those vehicles to ride‑hailing drivers, who pay a weekly rental from their earnings. Investors use the platform to buy a car; FlexClub generates revenue by charging a percentage of the rental income to investor club members. The company is registered in the Netherlands and is described as Joburg‑based; the platform launched to a small test group in November and went public to investors two weeks before the article. FlexClub reports about $3 million in assets under management in South Africa. The startup plans to expand from Africa through a partnership with Uber Mexico, beginning work in Guadalajara next month and sourcing investors via dealers and insurance brokers rather than hiring local staff. Founders include former Uber employees Tinashe Ruzane (CEO), Marlon Gallardo and Rudolf Vavruch.

Total raised

$6M

Funding rounds

3

Latest round

Seed

Latest activity

Mar 2021