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Allianz X acquires stake in used car platform Heycar

Allianz is also insuring the start-up for the next five years.

Tom Schmidtgen · Stuttgart, 09. July 2021

Allianz X acquires stake in used car platform Heycar — So sieht die App aus. (Foto: Heycar)

Allianz is also insuring the start-up for the next five years.

Heycar has a new investor. Allianz X, the investment arm of the DAX-listed company, is investing in the used car dealer. The amount of the investment is not disclosed. Existing investors are Volkswagen, Volkswagen Financial Services and Daimler. The new investor's goal is expansion.

"We see various opportunities to realize joint business potential with fully embedded product solutions," says Tomas Kunzmann, CEO Mobility & Assistance at Allianz Partners. "As more and more sales move online, customers need a partner they can trust to deliver high quality. This is exactly what they will get with heycar and Allianz," explains Nazim Cetin, CEO of Allianz X.

Allianz will also exclusively insure Heycar for five years. Heycar was founded in Berlin in 2017 and has already sold over 300,000 cars. In addition to Germany, the start-up is also active in Spain and the UK.

Allianz X Gebrauchtwagen Heycar Thomas Kunzmann Versicherung

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Investor 2013 München Allianz X Investment fund of Allianz Group with focus on tech and digital startups.

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