Societe Generale Group has announced the acquisition of Reezocar, a French platform specialised in the online sale of used cars to individuals.
Reezocar is one of the digital platforms in France supporting private buyers looking for a used vehicle from major European markets, including France. A motorist services platform, Reezocar offers a unique customer experience through an end-to-end digital journey, from research to vehicle delivery. The startup, with six years of activity, offers a catalog of 7 million vehicle listings in France and Europe and records a constantly growing number of monthly visitors to its platform, from 1 million in 2018 to over 2 million today.
This transaction will allow Reezocar to further enrich its service offering, particularly in the insurance sector, by accessing innovative solutions from Societe Generale Assurances, which Reezocar is keen to integrate into its model.
Reezocar will be able to rely on the strength of the Societe Generale Group to accelerate its development in France and internationally and to pursue commercial partnerships with the Group’s businesses.
This transaction further reflects Societe Generale Group’s ability to support thechanges in automotive and financial services consumption, to offer new services to its customers and to bring value to its partners and their customers.
For Claire Calmejane, Chief Innovation Officer of Societe Generale Group:
“Reezocar’s platform business model, its innovative positioning and the quality of its offer appealed to us because it strengthens our customer relationship promise. Synergies with our different businesses are numerous and allow us to go further in our Open Banking strategy.”
Laurent Potel, co-founder and CEO, and Vincent Deboeuf co-founder and CTO, of Reezocar,
“Reezocar’s mission is to simplify, secure and streamline the customer journey in order to offer the best possible shopping experience. We are proud to join Societe Generale Group and to pool our know-how to continue our development. Tristan Pillon together with us and the whole Reezocar team are committed in this new stage in our history. Our ambition is to provide our customers with an enhanced offer and to continue our strong growth”
