Cazoo expands into Italy via brumbrum acquisition

Online car retailer Cazoo is ramping up moves to expand in Europe, with the acquisition of brumbrum, Italy’s leading digital car retailer and subscription platform. Cazoo said it will use brumbrum’s local market expertise and commercial relationships across Italy – Europe’s fourth largest used car market by both volume and value – to accelerate the launch of Cazoo’s full proposition throughout Italy by the middle of this year. Founded in 2016, brumbrum is based in Milan and has grown to a team of over 180 staff, including at its 40,000 square metre vehicle preparation site in Reggio Emilia, which has the capacity to refurbish over 15,000 cars annually. The business offers hundreds of vehicles for sale, finance or subscription for delivery across Italy.

Cazoo expands into Italy via brumbrum acquisition

Jan 28, 2022

Online car retailer Cazoo is ramping up moves to expand in Europe, with the acquisition of brumbrum, Italy’s leading digital car retailer and subscription platform. Cazoo said it will use brumbrum’s local market expertise and commercial relationships across Italy – Europe’s fourth largest used car market by both volume and value – to accelerate the launch of Cazoo’s full proposition throughout Italy by the middle of this year. Founded in 2016, brumbrum is based in Milan and has grown to a team of over 180 staff, including at its 40,000 square metre vehicle preparation site in Reggio Emilia, which has the capacity to refurbish over 15,000 cars annually. The business offers hundreds of vehicles for sale, finance or subscription for delivery across Italy.

The personalisation play – why Rate for Risk could drive faster growth in UK auto finance

Recent research by McKinsey shows the power of personalisation is growing and brings with it a competitive advantage. Its Next in Personalisation report has found that 71% of consumers expect companies to deliver personalised interactions and the vast majority get frustrated when this doesn’t happen. Customers tend to spend greater amounts with businesses that deliver a more personalised service. You can generate more attractive offers as you get to know consumers better, which in turn means they are more likely to use your services and allocate a greater proportion of their spending to you.

The personalisation play – why Rate for Risk could drive faster growth in UK auto finance

Jan 27, 2022

Recent research by McKinsey shows the power of personalisation is growing and brings with it a competitive advantage. Its Next in Personalisation report has found that 71% of consumers expect companies to deliver personalised interactions and the vast majority get frustrated when this doesn’t happen. Customers tend to spend greater amounts with businesses that deliver a more personalised service. You can generate more attractive offers as you get to know consumers better, which in turn means they are more likely to use your services and allocate a greater proportion of their spending to you.

Rural Finance adopts digital “auto acceptance while you work”

A three-way collaboration between specialist brokerage Rural Finance, Sopra Banking Software and BNP Paribas Leasing Solutions has delivered a “finance auto-acceptances while you work” solution for the agricultural sector, designed to take time and friction out of the financing process. The auto-approval approach offers greater efficiencies between lender, broker and end-customer, plus the opportunity to provide more tailored services. The solution developed is an API interface between Sopra Financing Platform’s Sprint broker platform, used by Rural Finance and the existing BNP Paribas Leasing Solutions’ technology, also designed by Sopra Banking Software.

Rural Finance adopts digital “auto acceptance while you work”

Jan 26, 2022

A three-way collaboration between specialist brokerage Rural Finance, Sopra Banking Software and BNP Paribas Leasing Solutions has delivered a “finance auto-acceptances while you work” solution for the agricultural sector, designed to take time and friction out of the financing process. The auto-approval approach offers greater efficiencies between lender, broker and end-customer, plus the opportunity to provide more tailored services. The solution developed is an API interface between Sopra Financing Platform’s Sprint broker platform, used by Rural Finance and the existing BNP Paribas Leasing Solutions’ technology, also designed by Sopra Banking Software.

Businesses need to be “future ready” post-pandemic, says Sofico UK

With Covid restrictions set to ease in the coming weeks, there are concerns that some companies may fail to take onboard the lessons learned about the importance of technology in enabling businesses to be “future ready” with an ability to adapt and reconfigure business processes in an agile and flexible way in the face of major, business-changing incidents, according to global software solutions provider Sofico.

Businesses need to be “future ready” post-pandemic, says Sofico UK

Jan 25, 2022

With Covid restrictions set to ease in the coming weeks, there are concerns that some companies may fail to take onboard the lessons learned about the importance of technology in enabling businesses to be “future ready” with an ability to adapt and reconfigure business processes in an agile and flexible way in the face of major, business-changing incidents, according to global software solutions provider Sofico.

HPD Lendscape launches new asset finance offering

HPD Lendscape, a global provider in secured finance technology, is aiming to bring the full benefits of digital technology to lenders with the launch of Lendscape Asset Finance, a unified platform for all forms of secured lending which is designed to help banks and lenders boost productivity by streamlining everyday administrative tasks. The cloud-based contract management system offers an intuitive user interface, asset-level accounting, and the ability to manage all leases and loans on a single platform.

HPD Lendscape launches new asset finance offering

Jan 20, 2022

HPD Lendscape, a global provider in secured finance technology, is aiming to bring the full benefits of digital technology to lenders with the launch of Lendscape Asset Finance, a unified platform for all forms of secured lending which is designed to help banks and lenders boost productivity by streamlining everyday administrative tasks. The cloud-based contract management system offers an intuitive user interface, asset-level accounting, and the ability to manage all leases and loans on a single platform.

Richard Branson among investors in UK-based autonomous vehicle start-up

London-based autonomous vehicle (AV) start-up Wayve has raised $200 million from a prominent group of global financial and strategic investors for investment in further development of its artificial intelligence (AI) led approach on a global scale. They include D1 Capital Partners, Baillie Gifford, Moore Strategic Ventures and Linse Capital, as well as additional support from Microsoft and Virgin, and early-stage investors Compound and Balderton Capital, who join strategic investor Ocado Group and angel investors, including Sir Richard Branson.

Richard Branson among investors in UK-based autonomous vehicle start-up

Jan 19, 2022

London-based autonomous vehicle (AV) start-up Wayve has raised $200 million from a prominent group of global financial and strategic investors for investment in further development of its artificial intelligence (AI) led approach on a global scale. They include D1 Capital Partners, Baillie Gifford, Moore Strategic Ventures and Linse Capital, as well as additional support from Microsoft and Virgin, and early-stage investors Compound and Balderton Capital, who join strategic investor Ocado Group and angel investors, including Sir Richard Branson.

Digital INNK wins funding for innovative fleet in-life vehicle services technology ecosystem

Auto-tech software development house Digital INNK has secured high levels of investment interest for ViSN, its innovative technology platform for fleet in-life vehicle services, with its Series A funding round overfunding in a matter of days. The digital disrupter’s new shareholders are a composite of European and US investors comprising Family Offices and HNWs, many coming with strategically relevant relationships and sector experience. The company, which has spent more than four years developing ViSN, said the new funds will accelerate commercialisation of its ground-breaking platform in the UK and abroad.

Digital INNK wins funding for innovative fleet in-life vehicle services technology ecosystem

Jan 13, 2022

Auto-tech software development house Digital INNK has secured high levels of investment interest for ViSN, its innovative technology platform for fleet in-life vehicle services, with its Series A funding round overfunding in a matter of days. The digital disrupter’s new shareholders are a composite of European and US investors comprising Family Offices and HNWs, many coming with strategically relevant relationships and sector experience. The company, which has spent more than four years developing ViSN, said the new funds will accelerate commercialisation of its ground-breaking platform in the UK and abroad.

Bynx - Fleet Future Issue 3

A new report released today reveals how Mobility-as-a-Service could enhance leasing company profits by creating new revenue streams. The Fleet Future report, powered by Bynx, is now available for download and reveals how MaaS is starting to transform business transport.

Bynx - Fleet Future Issue 3

Dec 07, 2021

A new report released today reveals how Mobility-as-a-Service could enhance leasing company profits by creating new revenue streams. The Fleet Future report, powered by Bynx, is now available for download and reveals how MaaS is starting to transform business transport.

Mobility start-up trials autonomous car-hailing service

UK start-up Imperium Drive has begun trials of a new on-demand car-hailing service called Fetch using remote-controlled driverless vehicles. Drivers summon an unmanned vehicle via an app, which is navigated by a remote driver to their location. Once the customer has driven to their destination, they end their trip via the phone app and a remote vehicle operator takes over control and pilots the car back to base or to the next user.

Mobility start-up trials autonomous car-hailing service

Dec 06, 2021

UK start-up Imperium Drive has begun trials of a new on-demand car-hailing service called Fetch using remote-controlled driverless vehicles. Drivers summon an unmanned vehicle via an app, which is navigated by a remote driver to their location. Once the customer has driven to their destination, they end their trip via the phone app and a remote vehicle operator takes over control and pilots the car back to base or to the next user.

Motorway online used car marketplace accelerates to $1 billion valuation

Online used car marketplace Motorway has hit unicorn status. The UK start-up has now added $190m in a funding round led by Index Ventures and ICONIQ Growth, a leading Silicon Valley technology growth investment firm, to $67.7 million the raised in June. Existing investors Latitude, Unbound, and BMW i Ventures also participated in the latetst round, meaning Motorway is now claiming a valuation of over $1 billion.

Motorway online used car marketplace accelerates to $1 billion valuation

Nov 29, 2021

Online used car marketplace Motorway has hit unicorn status. The UK start-up has now added $190m in a funding round led by Index Ventures and ICONIQ Growth, a leading Silicon Valley technology growth investment firm, to $67.7 million the raised in June. Existing investors Latitude, Unbound, and BMW i Ventures also participated in the latetst round, meaning Motorway is now claiming a valuation of over $1 billion.

Auto innovators Bauer and Painter to launch Autonomy mobility platform

Auto retail industry veterans Georg Bauer and Scott Painter are planning a bundled car subscription service and have renamed their latest venture, the fintech and insurtech vehicle subscription platform NextCar/NXCR, in a bid to develop a global brand. The company has acquired the Autonomy brand and IP library from Micro Focus, which it intends to leverage to build a worldwide market for its mobility offerings. The pair announced a soft launch of what was then called NextCar/NXCR via a beta-test website earlier this year offering a “sneak peek” at a new car subscription service which would enable consumers to “skip the soul-crushing car loans and still get where you're going”.

Auto innovators Bauer and Painter to launch Autonomy mobility platform

Nov 25, 2021

Auto retail industry veterans Georg Bauer and Scott Painter are planning a bundled car subscription service and have renamed their latest venture, the fintech and insurtech vehicle subscription platform NextCar/NXCR, in a bid to develop a global brand. The company has acquired the Autonomy brand and IP library from Micro Focus, which it intends to leverage to build a worldwide market for its mobility offerings. The pair announced a soft launch of what was then called NextCar/NXCR via a beta-test website earlier this year offering a “sneak peek” at a new car subscription service which would enable consumers to “skip the soul-crushing car loans and still get where you're going”.

Expert opinion - delivering Rate for Risk success in UK auto finance

The head of one of the UK’s biggest auto finance providers has outlined the key steps to success for the introduction of Rate for Risk in auto finance. Richard Jones, managing director of motor finance and leasing, Lloyds Banking Group, gave his insights on the transition during an in-depth interview with the International Asset Finance Network.

Expert opinion - delivering Rate for Risk success in UK auto finance

Nov 22, 2021

The head of one of the UK’s biggest auto finance providers has outlined the key steps to success for the introduction of Rate for Risk in auto finance. Richard Jones, managing director of motor finance and leasing, Lloyds Banking Group, gave his insights on the transition during an in-depth interview with the International Asset Finance Network.

Cazoo to partner with Ogilvie Fleet on vehicle disposal

Cazoo has agreed a long-term partnership with Ogilvie Fleet covering damage recharging and the disposal of more than 18,000 vehicles for the leasing company at the end of contract. The online car retailer will provide a range of end of life services to Ogilvie, including inspect and collect services across the UK and in-house technology solutions.

Cazoo to partner with Ogilvie Fleet on vehicle disposal

Nov 18, 2021

Cazoo has agreed a long-term partnership with Ogilvie Fleet covering damage recharging and the disposal of more than 18,000 vehicles for the leasing company at the end of contract. The online car retailer will provide a range of end of life services to Ogilvie, including inspect and collect services across the UK and in-house technology solutions.