FutureRent raises R100 million in first funding round
The deal brings over 450 new vehicles to FutureRent's growing fleet, and is the company's most significant expansion to date. This scale-up will allow FutureRent to meet rising demand across the Western Cape, while continuing to make vehicle access faster, simpler and more affordable.
'This is more than funding; it's fuel for a new kind of mobility,' says Luke Henwood, CEO and founder of FutureRent. 'We're proving that drivers don't want rigid finance. They want freedom, flexibility, and the confidence to move without long-term debt.'
A new model for a changing market
FutureRent, founded in Cape Town, has rapidly grown by challenging the traditional model of vehicle ownership. Instead of tying customers to long-term bank loans, the company offers all-inclusive, medium-term car subscriptions. The subscription fee covers the use of the car, plus insurance, roadside assistance, servicing and tracking. There are no hidden costs.
As South Africa's vehicle sales continue to decline and traditional finance becomes less accessible, FutureRent's model has found strong traction among consumers, entrepreneurs and upwardly mobile professionals.
'Mobility is evolving and this raise proves we're not just following the trend, we're creating it,' Henwood says.
Backing from Europe
The funding round was led by a German Family Office with a strong track record in asset-backed ventures. The partnership brings not only capital, but also cross-border experience and long-term strategic value.
'We are proud to back FutureRent as they challenge outdated systems and build a new standard for mobility in Africa,' a representative from the Family Office says. 'This business has vision, operational discipline and traction – exactly what long-term investors are looking for.'
What's next for FutureRent
With a strengthened balance sheet and its expanded FutureRent fleet, the company is now preparing to scale its technology infrastructure. It is also exploring partnerships with innovative service providers to further streamline the customer experience.
'We're just getting started,' Henwood says. 'This is our first external raise and we've structured it for sustainable growth. FutureRent is built for real people, solving a real problem, and this fund raise proves the market believes in that.'
About FutureRent
FutureRent is a car subscription platform based in Cape Town, South Africa. Founded in 2022 by Luke Henwood, it offers a flexible alternative to traditional car ownership, with vehicles available on subscription terms that include insurance, warranty, servicing, tracking and roadside assistance – all in a single monthly fee.
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