"Car Subscription is Like Netflix for Cars" - Casi COO Ane Furu on the Benefits of a pay-as-you-go Model

Norway's imove recently became two businesses; the consumer-facing car subscription service, which will maintain the imove brand, and Casi, the car subscription technology provider. imove will continue operating in Norway, Sweden, and the Netherlands.

“We will take the insight of running imove with us into Casi, and through leading technology and know-how, we’ll continue to enable scalable car subscription services that people love,” says Hans Kristian Aas, CEO and co-founder of Casi.

To discover more about the car subscription business, we've been talking to Ane Furu, Casi's COO.

Casi enables OEMs, dealers, fleet operators, and other businesses to launch and scale car subscription services. 

"OEMs and industry experts estimate that 20-30% of new car sales globally will be in the shape of a subscription service already by 2025. Today car subscription and bundling services are top strategic priorities for any automotive executives," says Furu.

"Consumers demand more environmentally friendly transportation and easy access to digital services that seamlessly adapt to unique needs and convenience-oriented lifestyles. A car subscription service provides the needed flexibility, and bundles services to meet modern customers’ expectations." 

Casi went international in 2021. In the summer of 2021, it succesfully closed a Series A capital funding round which was led by the European automotive marketplace AutoScout24.

"With Casi, customers can launch and scale their service quickly, unleashing the full potential of their fleet and unlocking new revenue streams. The Casi platform empowers smart business decisions and enables providers to own their customer, their data, and their revenue," she explains.

"We’re focused on enabling the car subscription segment by providing the technology and know-how for providers to quickly launch and scale their own car subscription services." 

Unlimited Scalability for Fleet Owners

Furu says the subcription model is highly attractive to younger drivers as an alternative method of financing.

"Car subscription is like Netflix for cars. Younger drivers are familiar with the pay-as-you-go model and prefer this over various car financing methods. Car subscription often includes insurance, maintenance, roadside assistance, and other bundled services that make it easier to budget for mobility."

Stellantis has recently joined forces with Casi to launch its new car subscription service called Drivenjoy. The service is live in the Netherlands, where consumers can subscribe to cars from Peugeot, Citröen and DS. It will be scaled further to include more Stellantis brands.

In a press release, Sophieke Verhoeven, CEO, PSA Financial Services Nederland BV, states: “We see that car subscription will be a big part of the automotive industry in the future, and we determined now is the right time for us to play a role in how this segment evolves.” 

"This partnership is a collaboration between Stellantis, PSA Financial Services Nederland, and the car dealership group, Nefkens. Drivenjoy is powered by Casi technology, including distribution through their website and the car subscription marketplace, AutoScout24. We also provide a complete subscription management platform and business services such as consulting and marketing. We’re incredibly proud to work with an automotive giant like Stellantis and look forward to scaling their service," adds Furu.

Casi has also launched a car subscription marketplace in Norway with its partner, Schibsted, and they have a shared ambition of further Nordic roll-out.

"The user demand for car subscription is prominent. Traditional automotive players are already supplying this product and we see a growing interest from several players across Europe. Our white-label product enables fast time to market and unlimited scalability for fleet owners, making it possible to enter the car subscription space and increase cash flow," she says.

Accessing the Right Form of Mobility at the Right Time

Norway is out in front in terms of EV adoption. Fully electric vehicles account for around 80% of new cars sold in the country's major cities, and the EV share is close to 25% of the total car fleet in some cities.

"During the last decade, Norway has acquired hands-on experience of what it takes to electrify the vehicle fleet, experienced radical changes in consumer behavior, and established pioneer industry recipes to adapt and benefit from the electric revolution," says Furu.

"We’ve experienced that car subscription removes barriers for consumers to go electric. The flexibility of subscription overcomes the uncertainty of new EV brands, and the pay-as-you-go model makes accessing electric vehicles more feasible," she adds.

Finally, we asked Furu what will urban mobility in Europe look like by 2030.

"We think that by 2030 people will say, 'Remember when we used to own cars?' Vehicles sit idle 96% of the time. People want to have access to the right form of mobility at the right time, and that requires having flexibility; Flexibility to hop on an electric scooter or haul an Uber, take the train, or swap their small city car for a long range vehicle during vacation."

"The shift in how we consume mobility is a lucrative opportunity for fleet owners to introduce new revenue streams and increase cash flow," Furu concludes.