SA start-up, Flexclub, to ease frictional investment in ride hailing fleets

Millions of South Africans have rolled out drums to celebrate the inception of hassle-free frictional investment by the South African start-up industry – FlexClub, in partnership with Sunstone Capital and EasyEquities.

Flexclub, established in 2018, is a marketplace that allows car owners to rent out their cars to people using gig platforms. That is to say, you can buy a car and give it to FlexClub to manage. What FlexClub will do is to rent the car out to one of its Drivers Club members who will use the car to do business and pay a weekly rental fee to the owner.

Interestingly, FlexClub has also designed a flexible scheme called “Drive-to-Buy” that allows drivers to rent the cars and in the long run, own the car after they have got enough savings for the car acquisition. With this concept, many do-nothings have experienced a turnaround in their lives and hundreds of unemployed citizens have experienced an unparalleled shift in their income status. “When I first came to FlexClub, I dreamed of owning the car I was renting. Today, that car belongs to me”, said Kousso, a Drivers Club member. Currently, FlexClub boasts of serving more than 300 members in South Africa and Mexico using the Uber platform.

Recently, FlexClub struck a partnership deal with the Sunstone Capital and the EasyEquities to allow South African Investors to purchase shares in ride-hailing fleets. With just seven dollars ($7), South Africans can now be shareholders in this company. According to FlexClub, this new initiative is a “global first,” and it aims at multi-channeling the stream of income for the South Africans.

To clarify, the company has factored both the masses and the elites into its business plan. Unemployment will reduce drastically, and the Growth Domestic Profit (GDP) of the country will be positively affected.

In the words of Montegray Capital’s CEO, Michael Jordan, “I was attracted to FlexCub by the concept of helping people without capital to become entrepreneurs as Uber drivers who can buy the car over time, as well the team behind the concept. It is a company with possibilities in all markets where Uber operates and may also expand into other asset classes over time”.

FlexClub deserves encomiums for its commitment to reducing, if not evading, the unemployment rate in South Africa and beyond. If you are unemployed but not lazy, take a bold step now to join the FlexClub Drivers Club, and you will be financially free in no time.