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Wirecard starts partnership with European leading digital automotive platform company

Wirecard starts partnership with European leading digital automotive platform company

Banking & FinanceGermanyTop StoriesTransport

Wirecard, a global innovation leader for digital financial technology, has entered into a strategic partnership with Berlin-based AUTO1 Group, one of Europe’s leading digital automotive platforms. The agreement was fostered through SoftBank’s existing partnership with Wirecard and AUTO1 Group, and will cover several products in the area of digital financial services.

AUTO1 Group revolutionised the way cars are traded by developing a fully digital platform that enables both private customers and professionals to trade cars seamlessly throughout Europe. Well known for its affiliated companies, wirkaufendeinauto.de, AUTO1.com, Autohero and AUTO1 Fintech, the group meanwhile offers several additional digital services along the value chain of car trading. AUTO1 Group reported a €2.9 billion revenue in 2018, and boasts a car stock of more than 30,000 vehicles and more than 1 million private customers.

Wirecard and AUTO1 Group will further develop digital financial services together, offering consumers state-of-the-art services via boon, Wirecard’s consumer payment and banking platform, while professional partners will benefit from the partnership via AUTO1 Fintech, AUTO1 Group’s digital loan specialist unit.

“As part of the continuous optimisation of our service offering, we were looking for a knowledgeable partner with long-standing experience in both the financial and digital industries,” said Hakan Koç, Co-founder and Co-CEO of AUTO1 Group. “We are confident that with Wirecard we can continue driving our global business forward at a fast pace by offering our various customer groups individualised digital financial solutions.”

“We are excited to work with AUTO1 Group, a European market leader in the used car industry,” said Georg von Waldenfels, EVP Group Business Development at Wirecard. “AUTO1 Group can leverage on our wide-ranging financial service offering. We look forward to working together to develop joint solutions for AUTO1 Group companies.”

In the future, Wirecard is planning to build and provide digital financial services to further SoftBank’s numerous portfolio companies, operating in multitude of industries and sectors, including transportation, consumer goods, health tech and telecommunications.

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