Planet42 is an Estonian startup aiming to democratize transportation sustainably by combining fintech and mobility services. With their company, brilliant co-founders Eerik Oja (CEO) and Marten Orgna want to make car ownership more accessible to people in South Africa and Mexico – and soon, beyond.
The idea is relatively simple: Planet42 helps individuals whose bank loan application was rejected to get a car through their rent-to-buy subscription model. With a network of over 700 dealerships selling new or good-quality used vehicles, they offer various realistic first car choices for their customer to rent and, when they can afford it, buy it from them.
The company came to life in response to a sad reality: cars are a vital necessity in many parts of the world. Currently, the lack of good public transportation choices in some countries, combined with limited access to credits to buy a car, limits people’s educational opportunities and career options, and adds a layer of stress and unnecessary time waste in their everyday lives.
However, Planet42 empowers people to own a personal vehicle, which liberates them from depending on slow, inefficient, and unreliable public transportation that does not meet their needs.
In addition, the company is dedicated to making a real impact, which is why they are offering better commute options for its markets in a sustainable manner by supporting green energy, promoting responsible usage of cars, and offering CO2-neutral services.
Therefore, all service providers are carefully chosen and must align regarding the values they share and their efforts to save our world and fight inequality.
The founders strongly believe that access to finances for people who often don’t get support is vital in solving the mobility problem. In the long run, this will have other ripple effects, such as promoting education, reducing inequality, and supporting women entrepreneurs in the region.
Here is where BIND came in
As of 2022, Planet42 raised $30 million in additional capital from investors that recognized its potential. Our team at BIND immediately identified with the great values of the company and decided to join as soon as the first seed round closed to help build the modular banking system and elevate their website. In addition, we also helped with design know-how to speed up the time-to-market.
Setting up a scalable banking system and keeping integration time and costs as low as possible were significant challenges for Planet42. However, taking on this challenge alone was difficult because fintech solutions are often expensive due to the tight coupling of the systems and the difficulty in scaling them.
Here is where BIND came in. Easy-to-integrate, fully customizable, highly scalable, and cloud-agnostic backend tools, together with BIND’s frontend team’s efforts to develop scalable user interfaces (Vue, React, NodeJS, Bootstrap) and custom solutions, provided a viable solution to the issues mentioned above.
The backend and frontend were separated and scaled independently based on usage and location. In addition, we implemented automated monitoring and UI testing to solve issues before they affect the company or its end customers.
With a solid product in place, a unified platform, and reusable components, we were confident that the technical side of the Mexican launch would be seamless.
Agile collaboration and proactive mindset
At BIND, we think along with businesses and offer consultancy so that they can make better technical decisions. We are cost-effective and work as a side team without getting involved in internal affairs or core business values.
Our customers’ needs are always at the forefront of our lean and proactive mindset. We are focused on speed-to-market, and assist in design tasks to test ideas out in a timely manner.
Moreover, we offer close monitoring, prompt support, and ongoing development. BIND works as a self-aware and integrated side partner alongside companies like Planet42 so they can continue to focus on their primary business objectives.
“I don’t have any reasons not to recommend BIND wholeheartedly.”
“BIND cared and thought along; we were very impressed by the speed and consistency!”
“We felt that BIND shared our values, and that was very important for us.”
“The high quality and innovative solutions at BIND were genuinely a value add to the project!”
“Working with Bind was a pleasure because it felt like they got us, and they completed delivery quicker than we could have ever expected.”
“With BIND's clever input, we have been able to achieve a great advance on our project.”
“The BIND team and their quick solutions were the end to our problems.”
“BIND is fantastic at listening to your needs and not meddling with internal business.”