LATEST TECH NEWS: FlexClub launches drive-to-buy model. 2 other things and a trivia you need to know today, December 18, 2020

These latest stories from the tech space will keep you updated with trends today.

1. FlexClub launches drive-to-buy model

Local car tech startup FlexClub has launched the ‘Drive Now, Buy Later’ model in partnership with South African car rental company, Avis.

The new subscription service, according to reviews, will allow locals to purchase cars in Mexico and South African markets.

Speaking to news men, the board noted that the tech startup has completed the creation of the platform to allow South Africans purchase or rent vehicles at a subscription fee, which is all-inclusive of both insurance and maintenance.

However, depending on driving behaviour, subscribed members of FlexClub will receive a car that will decrease in purchase price over time. Explaining further, Ramasela Ganda, CEO of Avis SA noted that the partnership with FlexClub addresses the need for transport solutions in South Africa.

He said: “The Drive Now, Buy Later model is an innovative offering that comes at a time where customers are in need of flexible mobility solutions that cater to their ever-evolving needs. Avis South Africa is proud to be the first to partner with FlexClub on this subscription offering, as we Try Harder to continuously delight our customers.”

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Tech Trivia:

Which of these is the first web-based e-mail service?

A. Hotmail
B. Yahoo Mail
C. GMail
D. Rediff Mail

Answer: See end of post.

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2. Fundrr wins SME finance company of the year award

Earlier celebrated as Fintech industry disruptor, Fundrr, has been awarded the title of SME finance company of the year at the CorporateWire Prestige Awards.

Idan Jaan, co-founder of Fundrr, while speaking on the award, described it as a feather in cap, expressing excitement over the win.

He said: “This is a major feather in our cap, and we are extremely honoured to have been acknowledged by the international Prestige Awards.”

Read also: LATEST TECH NEWS: Nigerian Oil and Gas Tech Hackathon unveils winners. 2 other things and a trivia you need to know today, December 17, 2020

This year, the prestigious award recognises and celebrates SMEs that have overcome their competition and thrived in their respective industries with proven growth and success over a period of 12-months.

The startup has been reputed as a fintech that provides funding to SMEs. For the award, it was nominated for the illustrious award by public vote and by the award’s judging panel who was reportedly impressed with Fundrr’s ‘personal touch, consistency of reviews, and overall attentiveness.’

3. Social gaming platform Rec Room closes $20 million Series C

Rec Room, a social gaming platform, has announced closing new funding as it aims to bring its once VR-centric world to every major gaming platform out there.

The startup closed a $20 million Series C led by Madrona Venture Group with participation from existing investors, including First Round Capital, Index, Sequoia and DAG.

After years serving as a social hub and gaming platform for virtual reality users, the company, in recent years, tried to scale its ambitions past being known as the “Roblox of VR” and scale its capabilities to meet its young user base.

CEO Nick Fajt estimates that the company has tripled its total audience since this time last year as the company has made a concerted drive on new platforms.

According to press, one of the company’s big aims heading into the new year is scaling their creation tools, which allow players to build their own experiences inside the game.

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Tech Trivia Answer: Hotmail

Hotmail service was founded by Sabeer Bhatia and Jack Smith in 1996, and was acquired a year later (1997) by Microsoft for an estimated $400 million. Upon acquisition by Bill Gates, it was further developed into a personal information manager web app from Microsoft consisting of webmail, contacts, tasks, and calendaring services under a new name: OUTLOOK.

Before the name change, however, it was first relaunched as MSN Hotmail, and later rebranded to Windows Live Hotmail which was featured as part of the Windows Live suite of products. Microsoft phased out Hotmail in October 2011, relaunching the service as Outlook.com in 2012.

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