Allianz backs used car platform heycar

Allianz X , the digital investment unit of Allianz , is investing into Mobility Trader Holding GmbH, the parent company of Heycar , an international digital platform for quality used car sales. Existing investors include Volkswagen, Volkswagen Financial Services, and Daimler Mobility.

Founded in 2017, heycar’s digital B2C-platform provides customers with a wide range of quality used car offers, as well as add-ons such as warranty and flexible purchasing options like financing or leasing. Following the initial rollout in Germany, it expanded to the United Kingdom and Spain. Allianz Partners will become the insurance partner of heycar for the next five years in all existing and future markets. The cooperation will extend the heycar platform with Allianz insurance products and services by integrating them into the digital customer journey.

Allianz’ integration into heycar’s platform will make available core motor insurance products and extend to a variety of add-on features, such as roadside assistance and warranty. “The extensive partnership with heycar demonstrates Allianz Partners’ digital capabilities and our strong commitment to digital business models. It proves once more that we are an attractive and reliable business partner to OEMs across regions, products and services, customers segments, and distribution channels. We see various opportunities to realize joint business potential with fully-embedded product solutions, expanding in existing markets and entering new ones.” – Tomas Kunzmann, CEO Mobility & Assistance at Allianz Partners.

“We see healthy and sustainable growth potential in an OEM-backed, digital used car sales platform that covers both online and offline sales. As more sales move online, customers need a partner they can trust to deliver high quality. That’s exactly what they’ll get with heycar and Allianz.” – Nazim Cetin, CEO of Allianz X.