October 19, 2021

Deciliiter.ne

Breaking News Breaf

Automotive: Wyz raises 21 million to expand its offer



Wyz group, a digital platform that acts as the intermediary between tire sellers and buyers (manufacturers, after-sales networks, fleet managers, etc.), is giving itself the means to accelerate. The SME from Compiegne, which employs around fifty people and achieves 60 million euros in turnover, recently completed a round of funding of 21 million euros.

Direction Germany

Bringing together bpifrance, via the future automobile fund 2, BNP Paribas Développement, as well as Generis Capital Partners, already in the capital, the operation should enable the group to establish itself in new markets in Europe. “We are present in Spain, Portugal, Benelux and Sweden. That’s good, but we can do even better in major automotive markets, particularly Germany and Italy ”, announces Pierre Guirard, CEO of the company.

Since its creation in 2009, Wyz Group has focused on the increasing digitization of the automotive parts supply sector. Its proposal: to drastically reduce the share of unavailable tire references, 10 to 15% on average, by aggregating stocks scattered across the continent via its platform. The concept worked. Since 2012, the company has recorded an average growth of 30% per year.

Diversification

In addition to these new establishments, fundraising should also facilitate the diversification of the company. This strategy was initiated last February with the acquisition of a 29% stake in the start-up’s capital. Spid tech, specializing in the sale of accessories and spare parts for dealers. “This merger has resulted in the establishment of an e-commerce platform for the Nissan group,” explains the manager.

Wyz Group is also eyeing other markets, in particular the heavy goods vehicle sector, car maintenance, but also data management. The company has already set up a specialized division, Wyz Solutions, which develops websites and e-learning solutions, but also sells data to automotive distribution players.

“Our goal is to become an international benchmark in the supply chain. We are targeting 100 million euros in turnover by 2022, ”announces Pierre Guirard.