Louis Giraud – Founder & CEO @WYZauto
Last week, WYZauto, a Thai online tyre marketplace for vehicle maintenance businesses, announced a pre-Series A investment of US$2.25 million from Vynn Capital (lead), Vincent Lee, Oak Drive Ventures, and Kaya Founders. The company, which is three years old, plans to use the funding to expand its team and diversify into other vehicle parts.
In this interview, Founder & CEO Louis Giraud talks about the business, marketing strategies, unique selling points, and more.
Edited excerpts:
How does WYZauto plan to utilize the US$2.25 million raised in the pre-Series A funding round led by Vynn Capital?
Team building. We have accomplished a lot since our inception. It is now time to strengthen our team with talented individuals to expand into more markets, product categories, and complex customer segments.
Can you explain how WYZauto connects vehicle maintenance businesses with top tyre brands and wholesalers?
We integrate the stock, delivery options, and operational processes of tyre professionals into the WYZauto platform. We work with close to 100 wholesalers, have 200,000 tyres in stock from over 70 different brands in both countries, and offer nationwide delivery services.
Also Read: WYZauto nets US$2.25M to connect vehicle maintenance businesses with tyre brands in Thailand
What strategies does WYZauto employ to attract vehicle service centers to use its platform, and what benefits do these centers gain from using the WYZauto app?
There is no easy solution here. Convincing sellers to join us and provide the best offers for service centers is a long and challenging process. We also visit these centers to present our solution and persuade them to join. We believe there is no reason not to use our platform as it offers a unique source of information on the products they need daily. However, changing habits is always a lengthy journey.
How does WYZauto differentiate itself from competitors in the market, particularly in terms of its value proposition and offerings?
There are not many players like us in this region. It is difficult to find digital platforms focused on automotive professionals, let alone platforms that offer a network of sellers. We focus on fast delivery, service quality, and simplifying the ordering process. With our understanding of both the automotive and tech industries, we believe we can elevate the service level in this market.
How does WYZauto plan to streamline its maintenance supply chain, especially with its expansion into other vehicle parts?
There is a lot of inefficiency in our industry. Retailers often have stock but are unsure if they have the right product at the right time and place. By building a digitized network of stock and delivery options, we help them find a solution when there is a customer need. This will be particularly crucial when dealing with spare parts, which have a higher level of complexity due to the numerous references available.
Could you provide more details about the expansion into Malaysia and the significance of partnering with Vynn Capital for this expansion?
We launched WYZauto in Malaysia nearly a year ago to demonstrate our capability and knowledge in expanding into new markets. By growing rapidly, we are still at the initial stage and are keen to collaborate with key industry stakeholders to enhance their tyre business and future spare part needs. Partnering with Vynn Capital, a Malaysian company specializing in mobility and supply, felt like a good fit during the fundraising process. We believe they are the ideal partner to help us build synergies within their ecosystem and expand our solution.
Can you discuss the impact of WYZauto’s platform on increasing the e-commerce presence of wholesalers and brands in the automotive industry?
Our industry remains largely traditional and fragmented. Most players lack the time, money, or expertise to invest in a digital platform to streamline their operations and improve customer experience. This is where we come in: we invest our time, expertise, and resources to digitize their offerings and provide a new service to the targeted countries. We also offer access to extensive networks that require nationwide and sometimes complex system integration solutions.
What is your business model? How do you generate revenue?
We earn revenue from each transaction made on our platform. As we establish ourselves as a major player in the aftermarket automotive space, we anticipate that the data and traffic from our platform will provide valuable insights.
Also Read: No time to have your car serviced? MisterTyre comes to your aid at the tap of a button
With nearly 3,000 vehicle service centers already using the WYZauto app, what are the company’s plans to scale its user base further?
We are just getting started. We currently have around 2,500 service centers using our platform in Thailand, a number we aim to triple as we expand into other product categories. In Malaysia, we have close to 300 users, a figure we expect to increase at least tenfold.
The automotive aftermarket industry is vast, and there are numerous service centers that can benefit from our platform in each of the identified countries.
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