BMW Group Financial Services (BMW FS) has selected five fin-tech companies to join its Innovation Lab as part of what it has termed as its business incubator.

The five companies are:

  • Divido – a new approach to car financing; consumers split the cost of important purchases over a long period, using their smartphone in a BMW Centre or at home
  • Wrisk – a new take on insurance, centred around people, rather than their things. Bringing motor, travel and home cover together, to offer insurance that is more intelligent and flexible while reducing costs and making life easier.
  • – using big data to identify every car available on the market, to reinvent car sales and make buying vehicles safer and hassle free. 
  • Drover – a car rental marketplace connecting owners and drivers of licensed cars, for use on ride-sharing platforms
  • Warwick Analytics – a new type of predictive analytics, developed at Warwick University, that aims to make BMW Group Financial Services more efficient by automating data analysis


The five were chosen from a number of companies which pitched to the captive lender in September. As a result, from 3 October the companies will work with BMW FS for ten weeks as part of the Lab.

During this period, BMW FS has promised the companies dedicated office space at BMW FS’ headquarters in Farborough, mentorship from members of the business’s senior leaders, product validation and testing opportunities, access to investors at corporate innovation company L Marks and an education programme based on the Disciplined Entrepreneurship method from MIT.

Mike Dennett, CEO BMW Group Financial Services, said: “Despite being vital for many drivers to access vehicles, the auto-finance sector has failed to innovate in the same way that most other areas of the automotive industry have in recent years. Our industry is ripe for disruption and each start up we’ve selected to enter the Innovation Lab offers the potential to change how thousands of consumers gain access to and use vehicles, and I’m confident that our support will help us both work towards this goal.”

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The BMW Innovation Lab first launched in June as a way for BMW FS to partner with early stage start-up companies to partner with it.