Gowago further increases market share

ZURICH, 18.04.2024 - Gowago has been shaking up the car market since 2017 with the aim of making car financing simpler, more transparent and digital through the use of AI. In the first quarter of 2024, the Swiss car platform recorded a 150 % growth compared to the same period of the previous year. Gowago has established itself from a start-up to a strong player in the leasing and mobility sector and has set ambitious goals for the future.

In the highly competitive Swiss market, the brand-agnostic company Gowago achieved a market share of 3.5 % of the entire leasing industry* in the first quarter of 2024. An inflow of over 8,000 customers contributed to this positive development. Founded in 2017, the company is one of the largest providers of car financing in Switzerland with 52 employees.

"It's great to see that our work is bearing fruit and that the growth curve continues to rise. This pleasing development is the result of our consistent efforts to simplify and improve vehicle financing for customers," says Rutger Verhoef, co-founder and CEO of Gowago, who is delighted with the growth. "With our offers and services, we give customers a completely transparent overview of the monthly costs of their personal mobility without any surprise additional fees," continues Verhoef.

From selection to signing the contract: completely digital

Gowago uses an internally developed AI to calculate monthly instalments and residual values. The innovative technology enables customers to calculate monthly leasing instalments and residual values directly on the platform and compare the various car models from the comfort of their own home. There are over 18,000 offers for new and used cars to choose from. Once customers have found their dream car, they can place their order online at the touch of a button and sign the contract digitally. Only the vehicle is handed over physically, either by collection or home delivery.

Gowago number one in customer satisfaction

The positive digital financing experience in combination with the transparent presentation of costs without any hidden additional fees and the optional personal consultation impresses buyers. The 4.8-star rating on Google is the highest rating among Swiss leasing providers and is due to the fact that customer satisfaction has been a high priority at Gowago from the very beginning.

"With the positive growth of the company, we have not lost sight of this strategic customer focus, but have intensified it even further. Our goal is to convince even more customers of our services and make them happy. We want to further expand our market share and be the leader in vehicle financing in Switzerland," says Verhoef, looking to the future. To achieve this, Gowago is in the process of building more innovative, user-friendly tools to make it easier for people in Switzerland to own a car."

Origins and Vision

With Gowago, you save time, avoid frustration and have full control over your own monthly mobility budget. Founded in Zurich in 2017, the company is revolutionising the vehicle financing market together with Migros Bank and Baloise. Thanks to the AI developed in-house, customers can immediately see the final monthly costs for over 18,000 new and used cars on the digital platform and check them out online - without waiting for quotes and without hidden fees. With the selectable all-in-one service packages, there is no bureaucracy, as insurance, maintenance, tyres and much more are included in the monthly invoice. Customers are personally supported in all financing decisions by a competent advisory team.

• The calculation of the market share is based on the latest available data from the Swiss Leasing Association SLV from 2023 and assumes constant growth in the market in the first quarter of 2024.