16 Dec 20
News

Société Générale acquires Reezocar

Société Générale has acquired Reezocar, the France-based, Europe-wide platform specialising in the online sale of used cars to individuals. Founded in 2014, Reezocar currently has around 150 employees and is a major player on the used-car market in France. It has not been revealed how much the deal is worth. 

Reezocar collects millions of car listings from 10 European markets, offering a streamlined, end-to-end digital journey to used-car buyers, from research to delivery. With a catalogue of seven million vehicle listings, the company’s online platform receives two million visitors each month – up from one million in 2018.

The deal follows an earlier interest by Société Générale: in 2018, its subsidiary CGI Finance had already bought a stake in Reezocar. With the acquisition now complete, Reezocar will be able to offer its customers a broader range of services around used cars, in particular with regard to financing and insurance – Société Générale specialities. 

The direct backing of the financial group will also certainly benefit Reezocar’s further deployment on the French and wider European markets. The acquisition has no effect on the activities of ALD, another Société Générale subsidiary. "This is a separate activity from ours, through our consumer finance branch at the bank. There is no link with ALD," the company confirms.

Authored by: Frank Jacobs