Noerr advises heycar on investment by Renault

A Noerr team led by Berlin-based partner Felix Blobel has advised the heycar Group (Mobility Trader Holding GmbH) on an investment by the Renault Group and its subsidiary, financial services provider RCI Bank and Services. After VW Group and Daimler Mobility, the Renault Group is the third car manufacturer to acquire an equity stake in the quality used car platform.

Heycar, the multi-brand platform for quality used cars, has grown rapidly in the European used car market. Since launching in Germany (2017), the company has expanded to the United Kingdom (2019), Spain (2020) and France (2021). Today, it offers more than 350,000 vehicles internationally and works with a network of more than 6,000 dealers. With the investment by Renault, heycar is boosting its European growth plans and further increasing its range of services in cooperation with the new investor.

Noerr has provided extensive advice to heycar and Volkswagen Financial Services AG since heycar’s formation, such as in 2018 on the investment by Daimler Mobility AG, on Volkswagen AG’s investment and the market entry in Spain in 2020, and most recently on the acquisition of an equity stake by Allianz in summer 2021.

Advisors to heycar: Noerr Partnerschaftsgesellschaft mbB

Private Equity
Felix Blobel (partner), Marcel Behringer (senior associate, Berlin)

In-house counsel at heycar: Mischa Blank (head of legal and compliance)

Advisors on French law:
August Debouzy