Formed in November 2018, FlexClub is a managed marketplace that simplifies investing in cars rented to people using gig platforms to earn a living. Essentially, it allows users to purchase vehicles that are then matched with Uber drivers who pay a weekly rental charge to the investor.
FlexClub offers Drivers Club members – like Uber drivers renting the cars – access to its market-first “Drive-to-Buy” package which empowers them with the flexibility to rent the vehicle until it is affordable enough for them to buy it. It currently serves more than 300 members operating on the Uber platform in both Mexico and South Africa.
Its new service, which it says is a “global first” allows retail investors direct investment access to vehicles in ride-hailing fleets. Through a partnership with EasyEquities and Sunstone Capital, prospective South African investors can purchase shares in ride-hailing fleets, effectively pooling their capital to purchase rental-earning fleets.
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