autobiz, a Suresnes, France-based provider of solutions for online automotive and trade-in pricing, received a minority investment from The PSA Group.
The amount of the deal was not disclosed.
Led by Christophe Louvard, CEO, autobiz provides users people with used-car pricing solutions and quick car purchase proposals ith the promise to sell a vehicle in one hour. Its solutions are now available in nearly 30 countries. The company – which now has close to fifty employees distributed throughout France, Germany, Spain and Italy – is currently developing a consulting business for industry professionals and offers its technology to all its customers throughout Europe.
The investment aims to reinforce the links between the two companies as evidenced by the Reprise Cash By Peugeot and Reprise Citroën websites developed by autobiz in several European countries. According to a written note, the agreement will make it possible to conduct joint business activities abroad, in Asia and South America in particular.