October 13, 2022
Wylly is an online auction platform for used cars linking private owners and dealers. The startup aims to make the selling and buying experience simpler, faster and fairer.
BNP Paribas Cardif has been working with major automobile manufacturers for decades, leveraging its unique partnership-based business model to help them deploy their strategies and better serve their customers. This partnership encompasses insurance solutions (creditor insurance, extended warranties and more), as well as additional services to protect drivers and their vehicles. These solutions lead to policyholder satisfaction and regular contacts between automakers and their customers.
For their mobility solutions, French consumers tend to choose used cars over new vehicles. However, the buying and selling experience can take up considerable time and energy, and can be quite stressful as well. In addition to the vast diversity of options to be considered – in-person transactions at a garage, consumer-to-consumer ads, professional websites for vehicle purchases, etc. – there are extensive procedures for checking information provided by sellers, not to mention complicated auction systems.
To energize the used car market and promote the circular economy, BNP Paribas Cardif is supporting the launch of a new startup called Wylly, in partnership with startup studio Rainmaking. BNP Paribas Cardif insurer is also drawing on the expertise of its subsidiary Icare, a specialist in mechanical breakdown warranties and automobile maintenance contracts. An auction website that enables private vehicle owners to sell their used vehicles to dealers, Wylly aims to make the used car selling and buying experience simpler, faster and fairer.
Wylly has designed a “win/win” approach that benefits both private sellers and dealers.
For individuals, Wylly is a way to easily sell a car at the best price thanks to:
• national auctions with bids from thousands of professionals,
• free home vehicle pickup,
• an end-to-end, totally secure online process.
For dealers, Wylly makes it easier to source cars from private sellers thanks to:
• a daily inflow of used cars offered exclusively via the site from throughout France,
• detailed offers and verified vehicles,
• a 100% online process with automated auctions.
“As an insurer, we have been working closely in the mobility sector for many years with our automobile manufacturer partners. In this sector as in others, platformization changes expectations and creates new possibilities. In particular it encourages the circular economy by simplifying the selling and buying experience in the pre-owned vehicle market. By aiding innovative initiatives such as this we are supporting our customers as they adopt new approaches to consumption,” says Jean-Bertrand Laroche, BNP Paribas Cardif Deputy Chief Executive Officer, International Markets.
« Alongside the world's leading companies, we aspire to invest in great founders building world-class products that solve a big problem within a sizeable market. Our investment in Wylly achieves precisely this. We are proud to support Wylly on its mission to ensure every car owner gets the best price easily, quickly and entirely online when selling their car! » adds Jordan Schlipf, CEO Rainmaking Venture Studio.
“Cars remain an indispensable mobility resource for large numbers of people in France, and selling a vehicle at a good price is very important for their budgets. At the same time, dealers are in an excellent position to ensure an extended lifetime and safety for these used cars, creating a healthy ongoing supply of vehicles. Our solution brings sellers and dealers closer together across France by providing a platform for fair, transparent and simple transactions thanks to a 100% online experience in a secure ecosystem,” states Cyril Hersch, CEO of Wylly.