BNP Paribas Partners With Israeli Car Maintenance Startup Engie
Warranty Direct, the French bank’s car warranty company, will use technology developed by Engie to remotely detect issues and malfunctions in cars insured by the company
Warranty Direct Ltd., a U.K.-based company offering extended warranties for cars owned by Euronext-listed bank BNP Paribas SA, has partnered with Tel Aviv-based car maintenance startup Engie Motors Ltd., Engie announced Sunday.
As part of the collaboration, Warranty Direct will use Engie’s technology to remotely detect issues and malfunctions in cars insured by the company. Per the agreement, BNP Paribas invested an undisclosed amount in Engie, which brought the company’s total funding raised to $7 million.
Engie was founded in 2014 by a team of entrepreneurs including Uri Levine, co-founder of Google-owned mobile navigation app developer Waze. Engie develops a device that connects to a car’s computer using Bluetooth and monitors malfunctions and required maintenance, informing users of recommended actions in real time, via a mobile app.
The company recently launched a new service which allows managers of large fleets to remotely monitor the condition of vehicles. Called “Engie Fleet,” the service targets car rental companies, ride-sharing companies, and public transportation providers.