FutureRent, South Africa’s pioneering car subscription company, has secured R100 million (circa. €5 Million) in its first funding round, backed by a German family office. The capital injection marks a major step forward in FutureRent’s mission to reinvent mobility through flexible, finance-free vehicle access.
The deal brings over 450 new vehicles to FutureRent’s growing fleet, 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
Founded in Cape Town, FutureRent 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 car, insurance, roadside assistance, servicing and tracking, with 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,” says Henwood.
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“We are proud to back FutureRent as they challenge outdated systems and build a new standard for mobility in Africa,” said a representative from the Family Office. “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. The company is also exploring partnerships with innovative service providers to further streamline the customer experience.
“We’re just getting started,” says Henwood. “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.
