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February 28, 2020updated 28 Jul 2022 5:17am

Volkswagen AG joins as investor for heycar

By chris lemmon

Volkswagen AG has been confirmed as a new partner and investor for Mobility Trader Holding, the parent company of used car platform heycar.

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How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
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As was the case with the financial engagement of Daimler Mobility Services in 2018, the investment is taking place as part of a capital increase. It has been agreed not to disclose the amount of the capital contribution.

Lars Henner Santelmann, chief executive of Volkswagen Financial Services AG, said: “We are very pleased that our parent company is also convinced by heycar and is investing a significant amount in the venture. heycar has had a successful journey up to now. With the new corporate structure, we are creating the conditions for the further development of the business model and for the further international growth that is intended.”

Christian Dahlheim, head of Volkswagen Group Sales, added: “The marketing of used cars is of great strategic importance for the Volkswagen Group and its trading partners. heycar has established a high-quality service offer in this area that clearly stands out from the competition. Together, we will continue to drive our expansion in Europe.”

heycar was launched in Germany in October 2017 and currently offers more than 450,000 listed vehicles of different brands on its platform. In the United Kingdom, heycar already has a selection of over 160,000 vehicles on offer after only a few months.

Earlier this month, heycar UK announced the acquisition of HonestJohn.co.uk, a month after the motoring review site entered into administration.

Mat Moakes, chief executive of heycar in the UK, said: “We launched heycar to drive greater trust and transparency for motorists and the industry. That’s exactly what Honest John has been doing for the past two decades. The acquisition of the site will allow us to achieve that mission faster, by bolstering heycar’s growth and industry presence.

“We’re always on the lookout for opportunities to grow and to enhance the experience for car buyers and drive commercial benefits for our dealers, captive and OEM partners, where company values align.”

Free Report
img

How attractive are current investment opportunities in Europe?

Europe has been identified as one of the most favorable regions for investors, seeing high investment activity in the past year. Most of these investments have been through Debt Offering, valued at close to $700 billion. The region has provided attractive investments in a diverse set of companies. Companies who tend to major themes such Digital Media, Cloud, Artificial Intelligence, E-commerce, and Big Data are recording the highest number of deals, with Digital Media recording close to 2,000 deals. However, GlobalData’s whitepaper offers a full view of the market, analyzing less successful or attractive points of investment as well, examining statistics on Equity Offering investments and PE/VC deals. Understand how government agencies for economies around the world use GlobalData Explorer to:  
  • Track the M&A and Capital Raising volumes into their target market
  • Identify the top sectors in the target market attracting the investments
  • For any investment segment, identify the top Investors inside and outside the target economy that are already investing in the Segment
  • Assess and showcase the growth potential for various Industries in the target economy
Don’t miss out on key market insights that can help optimize your next investment – read the report now.
by GlobalData
Enter your details here to receive your free Report.

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