October 21, 2021

FlexClub and Untapped Global partner to unlock eMobility for on-demand workers

MEXICO CITY, Oct. 6, 2021 /PRNewswire/ — FlexClub, a marketplace for vehicle subscriptions, has partnered with Untapped Global, a pioneer of…

MEXICO CITY, Oct. 6, 2021 /PRNewswire/ — FlexClub, a marketplace for vehicle subscriptions, has partnered with Untapped Global, a pioneer of “Smart Asset Financing™, and ITALIKA, the leading motorcycle manufacturer in Mexico, to offer electric vehicle subscriptions to on-demand workers in Mexico and South Africa. This will make over 2,000 electric vehicles – including 1,000 electric motorcycles – more accessible for independent workers, using platforms such as Uber, Rappi, and Bolt. 

In emerging markets, a lack of access to vehicle financing has left millions of on-demand workers vulnerable to predatory informal vehicle rentals. Vehicle subscriptions offer flexibility and eliminate the need for customers to incur separate insurance, maintenance, or depreciation costs. 

“Our risk management technology and digital distribution capabilities enable asset financiers, leasing companies and vehicle manufacturers, to launch and operate vehicle subscriptions more profitably while serving a range of customers, including on-demand workers,” says Tinashe Ruzane, CEO of FlexClub. 

Leveraging IoT, Untapped Global’s Smart Asset Financing™ model makes these investments safer and more profitable, while tracking assets and capturing revenue in real-time.

“Simplified access to assets will catalyze a new wave of opportunities for thousands of entrepreneurs in economies such as Mexico and South Africa,” shares Jim Chu, CEO of Untapped Global.

This partnership has the potential to make electric vehicle usage soar. “We are committed to growing EV usage in Mexico and developing the infrastructure necessary for the future of mobility,” says Servando Canales, Italika’s Head of Innovation. “Our alliance with FlexClub and Untapped Global will accelerate the adoption of electric vehicles by providing a more flexible alternative to traditional financing.”

The partnership between Untapped Global and FlexClub extends to car subscriptions, in collaboration with Avis Fleet and several other leasing companies.

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About Untapped Global

Based in San Francisco with teams in Africa, Latin America, and Europe, Untapped Global is reshaping profitable investing in frontier markets. On a mission to empower the next billion entrepreneurs to scale to their full potential, Untapped creates opportunity by connecting frontier market innovators to global investors through its Smart Asset Financing™ platform, providing CAPEX financing around the world, and its global investment network, The Nest.

About FlexClub

FlexClub is a subscription marketplace for vehicles in South Africa and Mexico. The marketplace provides an additional distribution channel to leasing and vehicle rental companies looking to offer vehicle subscriptions to customers that want an alternative to traditional vehicle financing. FlexClub is leveraging its technology and operational capabilities to become the homepage for vehicle subscriptions in emerging markets. 

About Italika

ITALIKA® is the leading motorcycle brand and manufacturer in Mexico, with more than 3 million customers. ITALIKA® has revolutionized the market in record time. Early Italika motorcycles were designed jointly with Hyosung of South Korea. Current models are of Mexican design and origin, with a factory and parts warehouse in Toluca, Mexico. Italika motorcycles are used in Mexico and across Latin America.

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SOURCE Untapped Global