Vive la Car, a German mobility fintech founded in Stuttgart, is on an expansion drive and is setting up shop in Austria. This comes just months after it launched its car subscription website in Germany.
The company’s platform has been up and running since April. Vive la Car offers used and new vehicles from brand dealers for a subscription fee that includes insurance, tax, and maintenance.
The business has been going well and the start-up plans to move into the Swiss market later this year. But the company won’t stop there. It expects to roll its services out to other European countries.
Auto expert Martin Rada (LinkedIn profile) will take over the firm’s operations in Vienna.“Rada will promote cooperation with Austrian brand distributors and establish the platform in the market,” Vive la Car said in a statement.
The company provides brand distributors with a new sales channel. Its flexible subscription packages offer consumers the option to rent either new or used vehicles. All cars are centrally insured. Interest and depreciation are credited to a car dealer’s account on a monthly basis.
“Our society is increasingly turning into a subscription economy,” MD Mathias R. Albert said. The preference to subscribe to services, rather than to buy them, allows customers the flexibility to pay as they go.