Noerr advises heycar Group on investment by Allianz X

Noerr has advised heycar Group (Mobility Trader Holding GmbH) on the investment by Allianz X in the digital platform for quality used cars and services. Allianz X, the digital investment unit of Allianz, will be supporting the heycar Group’s European expansion. In addition, a five-year partnership with Allianz Partners will extend the heycar platform to include Allianz insurance products and services.

The heycar Group is the umbrella organization for all national heycar companies. The shareholders are Volkswagen Financial Services, Volkswagen and Daimler Mobility Services. Since its founding in 2017, heycar has been the fastest growing multi-brand, quality used car sales platform in the European automotive industry. Following the intial rollout in Germany, the company expanded to the United Kingdom and Spain.

A team led by our Berlin-based partner Felix Blobel acted for heycar. Our firm has been providing heycar and Volkswagen Financial Services with wide-ranging advice since heycar’s foundation, including in 2018 when Daimler became a shareholder, the investment by Volkswagen and the entry into the Spanish market in 2020.

Advisors to Mobility Trader Holding (heycar): Noerr

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

Inhouse 
Volkswagen Financial Services: Mustafa Shahswar (Legal Counsel)
heycar: Anne-Kristin Ketzler