10:16 am, October 8, 2024
Carwow Group has acquired Gridserve Car Leasing as it aims to become ‘the online car changing marketplace’.
Gridserve Car Leasing is a broker like Carwow but focuses exclusively on electric vehicles.
Carwow has revealed it intends to expand this to include PHEV and ICE cars when it relaunches the brand with a new name and identity in Q4.
Gridserve Car Leasing director Rob Buckland will continue to run the business as an independent business unit.
This latest purchase follows on from automotive media company Autovia joining the group in February.
In July, the business raised a further £37.8m in a new round of funding to help pursue strategic growth plans.
John Veichmanis, Carwow Group CEO, said: ‘It’s great news that we can announce another exciting acquisition today. Bringing Gridserve Car Leasing into the fold will enable us to develop a range of exciting new product experiences for those looking to lease their new car.
‘We plan to substantially increase our overall investment into the leasing category and quickly expand our reach.
‘We want to serve more customers looking to lease a car, while also providing our existing broker partners with more enquiries on our pay-on-results model.’
‘I am really excited to welcome Rob and his team to Carwow. They’ve a huge amount of collective experience and energy and we can’t wait for them to get started.’
Roy Williamson, executive chairman at Gridserve, said: ‘We are delighted to announce that Gridserve’s car leasing business has been acquired by Carwow, under whose guidance and support the team will be able to accelerate their work to offer drivers a comprehensive range of leasing solutions.
‘The acquisition follows Gridserve’s decision to focus on its core activities to deliver high power charging, powered by renewables, in locations where drivers need it the most.’
