Change Ventures concluded a seed investment into Planet42. Change Ventures is an early-stage investment fund based in the Baltics. Planet42 operates a car rental and hire-purchase platform in South Africa focused on unbanked clientele. Change Ventures took the role of the lead investor of the round and was joined by co-investors such as Martin Villig (Bolt), Ragnar Sass (Pipedrive), Marko Virkebau (MeetFrank), Kristjan Vilosius (Katana MRP). The total amount of the round was around 2.2 million euros.
COBALT advised Change Ventures with conducting the legal due diligence on the company and drafting investment documents for the investment round. The client was advised by Partner Kristel Raidla-Talur and Senior Associates Sven Böttcher and Greete-Kristiine Kuru.