South African Startup FlexClub Raises Additional USD 5 Mn In Seed Funding

South African car-subscription service provider, FlexClub, has raised additional USD 5 Mn (mix of debt and equity) in a seed extension round led by Kindred Ventures. Other investors who participated in the round include CRE VC, Endeavor, several angel investors such as Matt Mullenweg, the founder of WordPress; Federico Ranero, the COO of KAVAK; Tariq Zaid, and Ron Pragides. This takes the seed funding overall investment to ~USD 6 Mn.

Founded in 2019, FlexClub serves as car marketplace which connects customers seeking access to long-term cars with partners who sell car subscriptions. This funding will help the startup in developing its infrastructure, and minimize risk exposure of partners.