Crédit Agricole Consumer Finance and Opteven announce the creation of a joint venture to offer bank customers a European warranty extension and maintenance contract offer

Crédit Agricole Consumer Finance and Opteven agreed on a draft European strategic agreement
Opteven and Crédit Agricole Consumer Finance recently signed a draft European strategic agreement which would allow all European entities of Crédit Agricole Consumer Finance to offer all of their customers, individuals and professionals, a warranty extension and maintenance offer.

This agreement would also result in the birth of a joint venture specializing in automobile warranty and maintenance contracts, in which the two partners will each hold 50% of the capital. This joint venture will be responsible for leading and developing the partnership between CA Consumer Finance and Opteven.

The partnership could initially be active in the 9 countries currently covered by Opteven. It would gradually be extended to other countries where Crédit Agricole Consumer Finance develops its activities.

Services: the new pillar of Crédit Agricole Consumer Finance's automotive strategy
This transaction is fully in line with CA Consumer Finance's strategy to develop an automotive service offering that meets the needs of all customers in the rental and mobility financing market. This strategic pillar serves Crédit Agricole Consumer Finance's ambition to become the European leader in green mobility and is the foundation for building a mobility continuum.

« Our new agreement with Crédit Agricole Consumer Finance fits perfectly with Opteven’s international development strategy. It will strengthen our position as the leader in mobility service contracts. We are delighted with this privileged partnership that is emerging » says Jean-Matthieu Biseau, Chairman of Opteven.

« This strategic agreement with Opteven, a player widely recognized for its expertise in the market, and the creation of a joint venture owned 50-50 by our two entities illustrate the privileged partnership that we will building together. It is one of the cornerstones of the catalog of services that we are developing for all our customers in Europe. It is a powerful business lever which, beyond complementing our financing solutions and our sources of profitability, reassures end customers, in particular those who are moving towards electric mobility » underlines Stéphane Priami, Chief Executive Office of Crédit Agricole Consumer Finance and Deputy Chief Executive Officer of Crédit Agricole S.A. in charge of the Specialised Financial Services.

Crédit Agricole Consumer Finance Press contact: Claire Garcia - +33 (0)1 87 38 11 81 - presse@ca-cf.fr

Opteven Press contact: Marion Nedjar - +33 (0)6 52 88 35 17 - marion.nedjar@bellenouvelle.fr 

About Crédit Agricole Consumer Finance
Crédit Agricole Consumer Finance, a subsidiary of the Crédit Agricole Group, specializes in financing for individuals and provides access to all mobility solutions in Europe. It distributes directly, at the point of sale or on the e-commerce platforms of its partners, a wide range of financing solutions - depreciable credit, revolving credit, leasing and repurchase of credit - with associated services including insurance, fractional payment and services dedicated to mobility, with the aim of meeting the challenges of energy transition in mobility, housing and consumption. Its financing solutions and services are offered in France via Sofinco, in Italy via Agos, in Germany via Creditplus, in Portugal via Credibom, in Spain via Sofinco Espana, in Morocco via Wafasalaf, and in China via GAC-Sofinco (car financing only). Crédit Agricole Consumer Finance aims to be a European leader in green mobility and offers a continuum of all mobility solutions in the 19 countries where it operates (leasing, medium and short-term rental, subscription, car-sharing, installation of charging stations…). It relies on the joint venture with Stellantis, the 100% integration of CA Auto Bank and Drivalia and the development of automotive financing in its historical entities in Europe and in the Regional Banks of Crédit Agricole and at LCL via Agilauto. CA Consumer Finance acts every day in the interest of its 16.7 million customers and of society. As of December 31, 2022, CA Consumer Finance managed €103.1 billion in outstanding loans. 
More information: www.ca-consumerfinance.com

About Opteven
Opteven is a mixed services and insurance group, expert for 20 years in guarantees and services adapted to mobility. Leader in mechanical breakdown guarantee in Europe, it develops tailor-made offers in line with each market. Opteven is also one of the main players in the assistance market in France. Among the professions covered by Opteven: assistance, mechanical breakdown guarantee, maintenance contracts and other services (concierge, etc.). Committed to offering quality contracts adapted to the needs of all its customers, the company has 3 million beneficiaries of assistance and covers 1.8 million vehicles under warranty throughout Europe. With its 1,000 employees, Opteven is established in France, the United Kingdom, Italy, Spain, and Germany. In 2022, Opteven achieved a turnover of 278 million euros.
More information: https://group.opteven.com