14 September 2021
Renault Group and RCI Bank and Services take a stake in the heycar Group
- Renault Group and its subsidiary RCI Bank and Services pool expertise with the heycar Group (Mobility Trader Holding GmbH)
- Investment lays the foundation for further internationalisation and expansion of the heycar Group’s portfolio
Berlin, 14/09/2021 The heycar Group has gained another investor and strategic partner with the Renault Group and its subsidiary RCI Bank and Services. The involvement is in the form of a capital contribution; an agreement has been made not to disclose the amount. heycar is an online marketplace for high-quality used cars. The injection of capital means that the company has additional resources at its disposal for its European growth strategy. The heycar Group will also cooperate with the new investor to expand the portfolio offered to its customers in the three existing markets of Germany, United Kingdom and Spain.
“With the Renault Group and RCI Bank and Services, we have gained another large volume manufacturer as a strong strategic partner with whom we can continue our course of expansion together,” says Florian Schlieper, CEO of the heycar Group. “In addition to Volkswagen Financial Services, Volkswagen AG, Daimler Mobility AG and Allianz SE, we now also have the Renault Group with its associated brands of Renault, Nissan and Dacia together with RCI Bank and Services on board as a strategic core investor. This means that the heycar Group is backed by the combined expertise and financial resources of five large and successful European companies,” Schlieper continues.
Manufacturers as effective partners for successful international expansion
The manufacturers involved are valuable partners, especially when entering new markets. Buyers know that heycar is backed by the big brands they trust when buying a car. At the same time, the close links with the automobile companies and banks open up important market access for heycar and provide an important link to local dealers. heycar will be able to quickly generate relevance among customers in new markets through the resulting multi-brand offering. “This will ensure that a large selection of attractive quality vehicles is available to local buyers from the outset. This has already been a key to a very successful market launch in our existing markets of Germany, UK and Spain. The additional services we can offer together with our partners will generate unique added value for our customers,” explains Schlieper. “Besides an integrated used car warranty, we offer attractive one-stop purchase options such as financing and leasing. This allows us to optimise the buying process for high-quality used cars for our customers, manufacturers and the dealers alike,” Schlieper continues.
Customers and partners in existing markets also benefit
Customers in existing markets will also benefit from the shareholding, as it will allow them to find special offers on heycar made possible by the far-reaching, seamless integration of financing providers such as RCI Bank and Services. “This makes our offering unique on the online vehicle market: heycar is the digital platform for everyone in the decision process of a vehicle purchase– with special offers, clear quality criteria and an outstanding range of services,” explains Schlieper. heycar will open up additional digital sales channels for its partners – whether dealers, manufacturers, financing or insurance providers – to present their products and services. This applies both to leads from the traditional classifieds business as well as to the dynamically growing field of e-commerce.
Stake in heycar Group perfectly matches Renault Group's strategy
The investment is an ideal fit for Renault Group's corporate strategy. “We are very much looking forward to working together with heycar. In the space of just a few years, this platform has become a major player in online vehicle sales,” says Luca de Meo, CEO Renault Group. “This agreement fits seamlessly into Renault Group's strategy of adding value at every single stage of a vehicle's life cycle. Our aim with this partnership is to increase the competitiveness of our sales network along the entire vehicle value chain – from purchasing to aftersales. This involves services such as maintenance and marketing, as well as the sale of financing and services.” Part of the transaction is the vehicle brokerage platform Carizy. Oriented towards the French used car market, Carizy enables heycar to gain valuable insights into the market environment and to offer our customers in France a convenient buying and selling solution for high-quality used cars.
About the heycar Group
The heycar Group (Mobility Trader Holding GmbH) bundles all heycar national companies under one roof. Shareholders include Volkswagen Financial Services, Volkswagen, Mercedes-Benz, Allianz and Renault Group and its subsidiares RCI Banks and Services. heycar is the fastest growing platform for quality used cars in the European automotive industry. We have been offering our customers a user-friendly and ad-free online platform for tested used cars of all classes and well-known makes since 2017. The financing offerings of our partners are deeply integrated into our services. Our goal is to revolutionize the way people buy and experience cars. We are data-driven and always put our customers at the centre of everything we do. We operate in Germany, UK and Spain and are forging ahead with our expansion into new markets. heycar Group headquarter is in Berlin. CEO of the heycar Group is Florian Schlieper, while André Warmuth is CFO.
About Renault Group
Renault Group is at the forefront of a mobility that is reinventing itself. Strengthened by its alliance with Nissan and Mitsubishi Motors, and its unique expertise in electrification, Renault Group comprises 5 complementary brands - Renault, Dacia, LADA, Alpine and Mobilize - offering sustainable and innovative mobility solutions to its customers. Established in more than 130 countries, the Group has sold 2.9 million vehicles in 2020. It employs more than 170,000 people who embody its Purpose every day, so that mobility brings people closer. Ready to pursue challenges both on the road and in competition, Renault Group is committed to an ambitious transformation that will generate value. This is centred on the development of new technologies and services, and a new range of even more competitive, balanced and electrified vehicles. In line with environmental challenges, the Group’s ambition is to achieve carbon neutrality in Europe by 2050. https://www.renaultgroup.com/en/
About RCI Banque S.A.
Created and wholly owned by Renault Group, RCI Banque S.A. is a French bank specializing in automotive financing and services for the customers and dealership networks of Renault Group (Renault, Dacia, Alpine, Renault Samsung Motors and Lada) worldwide, the Nissan group (Nissan, Infiniti and Datsun) mainly in Europe, Brazil, Argentina and South Korea and through joint ventures in Russia and India, and Mitsubishi Motors in the Netherlands. RCI Bank and Services has been the new commercial identity of RCI Banque S.A. since February 2016. With 3,800 employees in 36 countries, the group financed over 1.5 million contracts (for new and used vehicles) in 2020 and sold more than 4.6 million services. At end-December 2020, average performing assets stood at €46.9 billion in financing and pre-tax income at €1.003 million. RCI Bank and Services has rolled out a deposits collection business in six countries since 2012. At end-December 2020, net collected deposits totaled €20.5 billion, or 43% of the company's net assets. Find out more about RCI Bank and Services: www.rcibs.com. Follow us on Twitter: @RCIBS