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Bpifrance in the capital of the automotive start-up WYZ

2021-07-05T00:11:45.891Z


INFO LE FIGARO - The company allows dealers to always have maximum availability for their tires. It is a nugget of the automotive sector. WYZ Group, created in 2009, is a player that allows car dealers to always have maximum availability for their tires. A niche activity, but oh so useful. Last year, the start-up recorded a 34% growth in its turnover, despite the Covid-19. "We will undoubtedly exceed 90 million euros in turnover this year, after having approached 60 million in 2020", rejoices


It is a nugget of the automotive sector.

WYZ Group, created in 2009, is a player that allows car dealers to always have maximum availability for their tires.

A niche activity, but oh so useful.

Last year, the start-up recorded a 34% growth in its turnover, despite the Covid-19.

"We will undoubtedly exceed 90 million euros in turnover this year, after having approached 60 million in 2020",

rejoices Pierre Guirard, CEO and founder of WYZ Group.

Read also:

Bpifrance in the red in 2020 despite a "high level of activity"

To accompany this dynamic, the boss decided to raise funds, which notably endorsed Bpifrance via the Future Fund Cars 2.

"We are pleased to participate with BNP Paribas Développement and the fund Generis Capital, this fundraising of 21 million euros, ”

explains Nicolas Ceria, director of

investments

at Fonds Avenir Automobile.

“We have been supported by Bpifrance since 2012. The entry into the capital of WYZ is the logical continuation of this support

”, specifies Pierre Guirard, who remains the largest shareholder of WYZ Group.

We invest in companies in traditional automotive subcontracting sectors that are profitable or have new technologies to support their growth.

Nicolas Ceria, Director of Investments at the Avenir Automobile Fund

Objective of this fundraising:

"to accelerate our international development and increase our offer through internal developments and

equity investments

"

.

This perfectly matches the strategy of the Avenir Automobile Fund.

“We invest in companies in traditional automotive subcontracting sectors that are profitable or have new technologies to support their growth,”

explains Nicolas Ceria.

The first Avenir Automobile fund was created in 2015 and has made it possible to invest 600 million euros in growing companies.

"Underwritten by Renault, Stellantis, Bpifrance and the State, the Avenir Automobile fund


has raised 525 million euros"

, specifies Nicolas Ceria. The fundraising


by WYZ Group represents the second operation of this second


version.

Source: lefigaro

All business articles on 2021-07-05

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