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Mobility 54 Investment SAS, the corporate venture capital subsidiary of Toyota Tsusho Corporation and CFAO SAS, has invested in Fleetsimplify Inc. and Drive to Own Pty Ltd. The two companies were selected for the 2022 Digital Transformation Challenge for Africa, a pitch event for startups in Africa, and the investment is to be made as an award to them. Fleetsimplify secured USD 50 K while Drive to Own secured USD 100 K.
Fleetsimplify is a vehicle rental marketplace connecting gig drivers to rental vehicles to drive on ride-sharing platforms. It leverages a suite of technologies and solutions to undertake fleet management on behalf of vehicle owners. Drive to Own has developed a system of providing people purchasing private cars with prepaid cards for making payments for insurance, maintenance services, fuel, and other items, and granting miles according to their prepaid amount.