PCFree Gets Financing to Offer Computer Rental Service

Computergram International, May 11, 1999

PC Free Inc, which bills itself as a strategic bundler of hardware, software, internet telephony and e-commerce, says it has secured $39m in private funding as it prepares to launch its service. The funding came from First Canadian Financial & Leasing in London, Ontario and will be used by the Antrim, New Hampshire- based company to provide computer systems to home and business users on a monthly lease.

In a business model that further commoditizes the personal computer, PC Free says it will offer customers a PC complete with speakers, color printer, TV tuner card, hardware and software metering technology, digital broadcast reception capability, and a game playing console, coupled with unlimited internet access, for a single monthly charge of $40. The company insists there is no contract to sign for the month to month rental, no credit needed and no invasion of privacy. The service is slated for a July launch in the US, Canada, Europe, Central America, South America, and Asia.