Berlin – While working at SMP, Members of the YPOG Team provided comprehensive legal advice to Allianz X, Allianz's digital investments unit, on its investment in heycar Group (Mobility Trader Holding GmbH). YPOG partners Stephan Bank and Frederik Gärtner had the lead on this transaction. KNPZ advised on IP/IT/data protection and PWWL on employment law. UK counsel was Fox Williams.
heycar is an international digital sales platform for high-quality used cars. Existing investors include Volkswagen, Volkswagen Financial Services and Daimler Mobility. Allianz Partners, a leader in B2B2C insurance and assistance services, will become the insurance partner for heycar in all existing and future markets for the next five years, according to the company. The collaboration will add Allianz insurance products and services to the heycar platform, which will be seamlessly integrated into the customer journey. By partnering with heycar Group, Allianz confirms its commitment to digital business models with the potential to fundamentally change the mobility sector. Allianz will offer essential car insurance products via the platform and extend them with a variety of additional offerings such as roadside assistance and warranty. In this way, heycar will become a holistic and customer-centric mobility provider, covering both conventional offline sales through dealers and the growing end-to-end online transactions. Since its foundation in 2017, heycar Group has become one of the leading sales platforms for high-quality used cars of numerous automotive brands in Europe. After launching in Germany, the company now also operates in the UK and Spain.
"We are delighted to have advised Allianz X on this transaction and also congratulate heycar on this partnership. The online used car market has great potential. Particularly in this area, customer confidence in the products and services offered is crucial, and the name Allianz provides the ideal framework for this," says YPOG partner Stephan Bank.
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Advisors Allianz X:
Dr. Stephan Bank (Corporate, Lead), Partner
Dr. Frederik Gärtner (Corporate, Lead), Partner
Jonas Huth (Corporate), Associate
Konstantin Häfner (Corporate), Associate
Pia Meven (Corporate), Associate
Daniela Machado (Corporate), Senior Foreign Associate
Other law firms involved:
IP/IT/data protection: KNPZ (Dr. Kai-Uwe Plath, Matthias Struck, Jan Schäfer)
Employment law: PWWL (Eckbert Müller, Dr. Marius Fritsche)
UK-Counsel: Fox Williams (Richie Clark, Sarah Carlton)
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YPOG is a law firm specialized in tax and business law, active in the core fields of Funds, Tax, Banking + Finance, and Transactions. The team at YPOG represents a broad client base, which ranges from emerging technology companies and family-run SMEs to large corporations, as well as private equity, and venture capital funds. YPOG is one of the leading advisors for venture capital, private equity, and fund structuring in Germany. The firm and its partners have been recognized nationally and internationally by JUVE, Best Lawyers, Legal 500, Focus, Chambers and Partners as well as Leaders League. Today, YPOG has more than 150 experienced attorneys, tax advisors and tax specialists and a notary, in four offices, located in Berlin, Hamburg, Cologne, and Munich.
