Renault’s RCI Bank enters the car subscription market with the acquisition of Bipi
RCI Bank and Services, the Renault Group’s automotive captive, acquired Bipi, a multi-brand platform that is a reference in car subscription offers for used vehicles.
RCI Bank and Services will support Bipi to accelerate its growth and to open new markets, together with Bipi’s current supply partners and in conjunction with RCI Bank and Services’ dealership partners, a release shows.
Founded in 2018 in Spain, Bipi is now present in Spain, France, and Italy. With 120 employees, it has serviced more than 10,000 customers in the last 3 years. Its subscription offer provides a turnkey solution, from the subscription to the return of the vehicle. Everything is included in one monthly payment, avoiding any surprises or unexpected expenses for the customer. The customer creates a tailor-made subscription: he chooses the duration of use of the car (from 1 to 36 months) and can change the mileage, the category or model of car according to his needs. They can terminate their subscription at any time and in full transparency.