Advising on UK launch of Volkswagen Financial Services and Daimler Mobility backed online marketplace, heycar

Taylor Wessing has advised on the launch of heycar in the UK, an online used cars marketplace backed by Volkswagen Financial Services and Daimler Mobility.

Taylor Wessing advised heycar on all aspects of the launch, including on corporate, commercial, privacy, FCA and employment matters.

heycar launched in the UK this month after building a strong following in Germany. The site launched in Germany in 2017, and now has an inventory of over 400,000 cars from over 4,000 dealerships making it one of the most dominant online used-car marketplaces in the country.

The company will look to establish themselves in a UK used car market worth £50bn and a UK used-car finance market worth £17.6bn.

The team was led by partners Mark Barron and Sian Skelton with support from senior data protection adviser Sally Annereau, and associates Matthew Ives and Tamara Mackay-Temsey.

Mark Barron, Corporate Technology Partner at Taylor Wessing, said: "It's been a real pleasure to work with heycar on their UK launch on the back of their fantastic success in Germany. Their mission to create a used cars marketplace which offers greater trust and transparency for buyers as well as a more effective commercial platform for dealers is sure to resonate with the UK market. We look forward to watching their growth."