Reezocar investment from CGI Finance

CGI Finance, a subsidiary of Societe Generale, takes a minority stake in Reezocar, a start-up specializing in the sale of used cars

CGI Finance and Reezocar announce having forged a strategic capital and commercial partnership. CGI Finance, a subsidiary of Societe Generale group, is taking a minority stake in Reezocar, a French start-up specializing in the sale of used cars to private persons.

The Reezocar.com marketplace is a trusted third party assisting buyers looking for used vehicles from France and major European markets and brings nearly a million visitors every month. This transaction reflects the desire of Societe Generale Group and its specialized subsidiaries to support the profound changes in banking and automobile consumption habits.

Jean-Hugues Delvolvé, Chief Executive Officer of CGI Finance commented: "Our common goal is to combine both companies' know-how to form a leader in Internet automotive transactions in France. This investment is directly linked to CGI Finance's strategy to facilitate car purchase funding via the Internet, initiated in 2015 with the launch of the vivacar.fr marketplace, while maintaining its leading position as a service which helps funding sales of new as well as used cars."