Berlin — Allianz’s digi­tal invest­ments unit Alli­anz X has inves­ted in the used car plat­form heycar Group (Mobi­lity Trader Holding GmbH), in which Daim­ler Finan­cial Services, among others, had alre­ady taken a 20 percent stake in Septem­ber 2018.

Alli­anz X was advi­sed on this tran­sac­tion by members of the YPOG team (YPOG’s prede­ces­sor law firm was called SMP). YPOG part­ners Stephan Bank and Frede­rik Gärt­ner were the lead part­ners in this tran­sac­tion. KNPZ assis­ted in the area of IP/IT/data protec­tion and PWWL in the area of labor law. UK coun­sel was Fox Williams.

heycar is an inter­na­tio­nal digi­tal sales plat­form for high-quality used cars. Exis­ting inves­tors include Volks­wa­gen, Volks­wa­gen Finan­cial Services and Daim­ler Mobi­lity. Alli­anz Part­ners, a leader in B2B2C insu­rance and assis­tance services, will become the insu­rance part­ner for heycar in all exis­ting and future markets for the next five years, accor­ding to the company.

The coope­ra­tion will add Alli­anz insu­rance products and services to the heycar plat­form, which will be seam­lessly inte­gra­ted into the custo­mer jour­ney. By part­ne­ring with heycar Group, Alli­anz confirms its commit­ment to digi­tal busi­ness models with the poten­tial to funda­men­tally change the mobi­lity sector. Alli­anz will offer essen­tial car insu­rance products via the plat­form and expand them with a variety of addi­tio­nal offe­rings such as roadside assis­tance and warranty. In this way, heycar beco­mes a holi­stic and custo­­mer-centric mobi­lity provi­der, cove­ring both conven­tio­nal offline sales by dealers and the growing end-to-end online transactions.

Since its foun­da­tion in 2017, heycar Group has become one of the leading sales plat­forms for high-quality used cars of nume­rous auto­mo­bile brands in Europe. Follo­wing its launch in Germany, the company now also opera­tes in the UK and Spain.

“We are very plea­sed to have advi­sed Alli­anz X on this tran­sac­tion and also congra­tu­late heycar on this part­ner­ship. The online used car market has great poten­tial,” says YPOG part­ner Stephan Bank.

Advisor:inside Alli­anz X: YPOG Part­ner­schaft von Rechts­an­wäl­ten und Steu­er­be­ra­tern mbB Schnittker+Partner
Dr. Stephan Bank (Corpo­rate, Lead Part­ner), Partner
Dr. Frede­rik Gärt­ner (Corpo­rate, Lead Part­ner), Partner
Jonas Huth (Corpo­rate), Associate
Konstan­tin Häfner (Corpo­rate), Associate
Pia Meven (Corpo­rate), Associate
Daniela Machado (Corpo­rate), Senior Foreign Associate

Other law firms involved:
IP/IT/Data Protec­tion: KNPZ (Dr. Kai-Uwe Plath, Matthias Struck, Jan Schäfer)
Employ­ment Law: PWWL (Eckbert Müller, Dr. Marius Fritsche)
UK Coun­sel: Fox Williams (Richie Clark, Sarah Carlton)

About Alli­anz X

Alli­anz X is the digi­tal invest­ment unit of the Alli­anz Group.
We are inves­t­ing in digi­tal growth compa­nies that are part of the ecosys­tems rela­ted to insu­rance. We iden­tify and invest in the best digi­tal front­run­ners that are stra­te­gi­cally rele­vant for the Alli­anz Group. We provide an inter­face between port­fo­lio compa­nies and the digi­tal ecosys­tem within Alli­anz as well as drive inno­va­tion across Allianz’s opera­ting enti­ties and global lines of busi­ness. www.allianzx.com