Allianz X’s Investment in Heycar Group

Noerr has advised heycar Group (Mobility Trader Holding GmbH) on the deal. YPOG, KNPZ, PWWL and Fox Williams advised Allianz X.

Allianz X, the digital investment unit of the Allianz Group, 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.

Allianz Partners, a leading company in B2B2C insurance and assistance services, 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 seamlessly integrating them into the digital customer journey.

Since its founding in 2017, heycar Group has evolved into one of the leading multi-brand, quality used car sales platforms in Europe. Following the initial rollout in Germany, it expanded to the United Kingdom and Spain. The 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. In order to do so, heycar builds on strong partnerships with car manufacturers, dealers, and  captive banks.

By partnering with heycar Group, Allianz is further committing to digital business models with potential to disrupt the mobility sector. Allianz’ integration into the platform will make available core motor insurance products and extend to a variety of add-on features, such as roadside assistance and warranty. In that way, heycar will become an holistic and customer-centric mobility provider covering both conventional offline dealership sales as well as increasing end-to-end online transactions. By teaming up with each other, heycar, car manufacturers, captive banks, and Allianz Partners can offer customers a trustworthy and digital car-purchasing experience.

Allianz X invests in digital frontrunners in ecosystems relevant to insurance and wealth management. As one of the pillars of Allianz Group’s digital transformation strategy, Allianz X provides an interface between Allianz Operating Entities and the broader digital ecosystem, enabling collaborative partnerships in insurtech, fintech, and beyond.

The Noerr team included Felix Blobel (Picture), Marcel Behringer (joint lead, Private Equity), Tobias Bosch (Telecommunications), Pascal Schumacher (Data Protection, all Berlin), Thomas Heitzer (Insurance, Düsseldorf).

The Inhouse team at Volkswagen Financial Services was led by Mustafa Shahswar, while at heycar was headed by Anne-Kristin Ketzler.

The YPOG team included Dr. Stephan Bank (Corporate, Lead, Partner), Dr. Frederik Gärtner (Corporate, Lead, Partner), Jonas Huth (Corporate, Associate), Konstantin Häfner (Corporate, Associate), Pia Meven (Corporate, Associate) and Daniela Machado (Corporate, Senior Foreign Associate).

The KNPZ team included Dr. Kai-Uwe Plath, Matthias Struck and Jan Schäfer.

The PWWL team included Eckbert Müller and Dr. Marius Fritsche.

The Fox Williams team was led by Head of Corporate Richie Clark, corporate senior associate Sarah Carlton and associate Priya Mattu, with assistance from tax director Jo Varia, financial services regulatory partner Chris Finney, IP partner Simon Bennett and associate Charlotte Kong, data protection partner Kolvin Stone and associate Ben Nolan and employment partner David Murphy and legal director Daisy Jones.

Involved fees earner: Simon Bennett – Fox Williams; Sarah Carlton – Fox Williams; Richie Clark – Fox Williams; Chris Finney – Fox Williams; Daisy Jones – Fox Williams; Charlotte Kong – Fox Williams; Priya Mattu – Fox Williams; David Murphy – Fox Williams; Ben Nolan – Fox Williams; Kolvin Stone – Fox Williams; Joanne Varia – Fox Williams; Kai-Uwe Plath – KNPZ Rechtsanwälte – Klawitter Neben Plath Zintler; Jan Schäfer – KNPZ Rechtsanwälte – Klawitter Neben Plath Zintler; Matthias Struck – KNPZ Rechtsanwälte – Klawitter Neben Plath Zintler; Marcel Behringer – Noerr; Felix Blobel – Noerr; Tobias Bosch – Noerr; Thomas Heitzer – Noerr; Pascal Schumacher – Noerr; Marius Fritzsche – Pusch Wahlig Workplace Law; Eckbert Müller – Pusch Wahlig Workplace Law; Stephan Bank – YPOG; Frederik Gartner – YPOG; Konstantin Häfner – YPOG; Jonas Huth – YPOG; Daniela Machado – YPOG; Pia Meven – YPOG;

Law Firms: Fox Williams; KNPZ Rechtsanwälte – Klawitter Neben Plath Zintler; Noerr; Pusch Wahlig Workplace Law; YPOG;

Clients: Allianz X; heycar;

Author: Federica Tiefenthaler