Welsh business news: Wagonex announces first transatlantic subscription platform
The new partnership shows increased demand for subscription services in emerging markets worldwide.
Wagonex, the UK’s leading vehicle subscription platform, has announced their first live international platform with OneSummit, one of Chile’s largest car dealership groups.
The strategic partnership with Wagonex has been launched to help OneSummit expand its fleet solutions across the South American market with their own branded subscription platform.
The platform went live this month, marking the launch of one of the first car subscription propositions in Chile. With the global Vehicle Subscription market size being valued at USD 4760.15 Million in 2024, and predicted to reach USD 21649.48 Million by 2031, with a CAGR of 28.72% during 2024-2031, there’s a huge opportunity for subscription software companies like Wagonex to grow outside of the UK.
This is an exciting international partnership for Wagonex and the team has worked closely with OneSummit to ensure the accurate implementation of Chilean Spanish as well as adding the Chilean peso currency to their subscription platform. The Wagonex in-house development team is also undertaking significant development work to ensure the platform can easily be adapted to international markets at scale.
Toby Kernon, CEO and founder of Wagonex, said: “We have ambitious international growth plans and it’s been a pleasure working with the OneSummit team in Chile. We look forward to exploring a wealth of opportunities across the South American market as well as several other countries on a global level.”
“When working with automotive companies outside of the UK, we have to gain insights into different consumer markets and their needs, such as vehicle categories and alternative configurations of the customer journey. These insights help us to innovate and ensure the platform is as adaptable as possible to suit all of our partners’ requirements, no matter where they are in the world.”
Toby added: “This new partnership reflects the increasing demand for car subscription services in emerging markets worldwide.
“Expansion into new territories and empowering partners globally has been our mission from the start. We see it as an opportunity to drive future growth by helping them achieve success with the subscription model.”
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About Wagonex:
Based in Cardiff and founded in 2016, Wagonex is a leader in the UK’s fast-growing vehicle subscription market, giving consumers direct access to vehicle subscriptions of all shapes, sizes, and lengths.
It specialises in building, launching, and growing vehicle subscription platforms for vehicle manufacturers and retailers. Wagonex has a strong track record in the industry and already works with many big-name partners such as Renault Trucks and the latest subscription brand to the market, mycardirect.
Developed over six years, Wagonex’s advanced technology gives partners a quick route into vehicle subscriptions, offering greater flexibility and an enhanced digital experience to a new generation of tech-savvy customers.
With Wagonex, offering vehicle subscription could not be easier, with everything from marketing to insurance, customer verification, and vehicle delivery coming together in one seamless digital package enabling partners to monetise inventory and drive innovation.
