Lloyds invests in a car super-app

Lloyds Banking Group has invested £4 million in Caura, an all-in-one automotive app designed to simplify payments for motorists.

Founded in 2019 by Apple's former head of business development, the car administration platform is based in London,
Caura for iOS and Android provides a single, highly intuitive interface for all driving-related payments that simplifies the user journey for motorists by sending them 'right time' notifications.
Caura's platform already handles:
- car insurance,
- roadworthiness testing,
- vehicle taxes,
- tolls...
- and should soon accept parking tickets
Caura has raised over £8.4 million. Previous backers of Caura include TwinFocus, InMotion Ventures (the venture capital arm of Jaguar Land Rover)...
The funds raised in this new round will be used to further develop existing products, including administration, payments and insurance, as well as to progress an ambitious roadmap for new products.

Making yourself indispensable...: By seamlessly managing car insurance, roadworthiness testing, vehicle tax, tolls and council fees, Caura saves drivers valuable time and money. Caura's experienced management team is focused on the customer experience. This significant investment represents another important step in its plans to work closely with fintechs and technology partners to bring together data-driven insights and technologies to help customers.
... to become a must-have: "Our future plans for Caura include developing integrated financial services such as auto loans and insurance, white-label payment solutions for auto partners and self-service SaaS solutions for SME customers. The aim is to create a super-app for the motorist who will be able to earn money by marketing the products of its partners.

In a recent interview, the CTO of Lloyds Banking Group offered an interesting exploration of what digital transformation really means. In particular, he advocates collaboration and openness to external ecosystems, breaking with the tradition of 'home-grown'.
Mooncard, a fintech specialising in business expense management, is also developing around mobility services by enabling automatic payment ticket feedback from over 1,300 service stations in France. This integration enables all the details of expenses (fuel, recoverable VAT, etc.) to be entered into the Mooncard software, saving time and money on the dematerialisation of expenses and avoiding the loss of receipts.

Category : Alertes quotidiennes