Lizy, the Belgian market leader in second-hand leasing, turns five and is celebrating. After expanding to France and tripling turnover in 2023, the scale-up is raising 11.5 million euros of fresh capital. “Demand for affordable electric lease cars continues to grow, a gap in the market that Lizy is filling,” the company says.

Five years ago, Lizy was founded by Sam Heymans (ex-McKinsey and Google) and Vincent Castus. The start-up offers recent second-hand and stock cars for leasing via an online platform. The contracts are usually slightly shorter than for new cars and are at a monthly price of 15 to 40 percent lower than that of new cars. “Second-hand leasing is cheaper, more sustainable, and more efficient than the traditional model,” Heymans says.

Consortium of investors

Since 2019, the Brussels Lizy has made leasing easier and cheaper for self-employed people and SMEs. They can enter a lease contract for high-quality second-hand cars with them entirely digitally. And the formula works: the company quickly became the Belgian market leader in second-hand leasing and expanded to France.

On its fifth anniversary, Lizy will receive a capital increase of 4 million euros, supported by a consortium of existing investors: Alychlo, the family office of Marc Coucke, D’Ieteren Automotive, and NewAlpha. In addition, new partner Welvaartsfonds (‘prosperity fund’) is coming on board with a debt financing of 7.5 million.

Sustainable and affordable

An essential aspect of Lizy’s rapid rise is the growing popularity of electric lease cars. An increasing share of the vehicles delivered are electric. Last year, this concerned half of the contracts; since January, that figure has stood at 60 percent.

“By choosing young second-hand cars, Lizy can offer quality electric cars at lower lease prices: an interesting option for companies looking for sustainable yet affordable mobility solutions,” says co-founder and CEO Sam Heymans.

European market leadership

It is precisely this commitment to sustainability and future-oriented solutions that makes Lizy attractive to investors. Last year, the young company’s turnover amounted to more than 10 million euros. This year, it aims for more than 20 million euros in income.

Strengthened by five years of solid growth on home soil, Lizy is now gearing up and aims for European market leadership in leasing second-hand cars. The capital raised will further support the expansion into France and focus on new European markets.