Vienna Insurance Group acquired 20% interest in ViveLaCar start-up

12 February 2020 —
Vienna Insurance Group (VIG) announced the acquisition of an interest of around 20% in the German start-up ViveLaCar GmbH, which is headquartered in Stuttgart. VIG's acquisition will help ViveLaCar's planned expansion into Austria and Switzerland in spring 2020.

ViveLaCar mobility start-up is aimed at target groups that want to be mobile as easily as possible for a specific period of time. It addresses groups such as expatriates who want to be mobile in a city while they are working on a project, or companies that want to easily increase their vehicle fleet based on their order situation. Young people in the family planning and career development phase are another target group. This target group shows little interest in entering into long-term vehicle commitments and obligations during this specific life period.

Elisabeth Stadler, CEO of Vienna Insurance Group, explained:

"This simple, transparent mobility option has convinced us. No longer owning a car, but still being mobile when needed is in line with the idea of a 'sharing economy'. And doing everything digitally at no risk to the customer or handling contracts and official channels, while also not having to worry about vehicle maintenance, is in the spirit of the times for unbureaucratic mobility solutions."

Vehicles are subscribed directly online from an authorised dealer for a monthly fixed price. Depending on demand and inventory, the dealers offer models from their demonstration, short-term registration or recent registration lines of vehicles that are a maximum of two years old. The vehicle remains in the ownership of the dealer, who can use the subscription model to reduce long inventory periods for new models. The dealer also handles warranty and service work.

Mathias R. Albert, founder and CEO of the Stuttgart ViveLaCar, commented:

"Our analysis in a study of trends showed that almost one out of every two people are interested in testing an electric car on a day-to-day basis over a lengthy period of time. They want to find out whether this form of vehicle drive satisfies their expectations before possibly deciding to buy one. Our innovative car subscription provides the opportunity to easily test an electric car at no risk."

ViveLaCar has been in the German market since spring 2019 and currently offers more than 200 different models from around 20 brands at more than 300 locations in Germany. 70% of the subscribers use ViveLaCar for more than six months. A subsidiary, ViveLaCar Wien GmbH, has already been formed for the planned expansion into Austria and Switzerland. The online platform will be expanded to cover all of Germany, Austria and Switzerland in 2020. You can visit their official website for more information -