Effective February 1, the U.K. has a new leasing and mobility provider.

Drivalia, owned by Credit Agricole’s FCA Bank, is expanding into the U.K. market with the aim of building a fleet of 4,000 vehicles in the first year of operation.

The leasing operation is led by Duncan Green, formerly of Lex Autolease, the U.K.’s largest leasing company. Green says the all-makes leasing business will target the leasing broker channel initially, before expanding later this year into the SME, corporate and mobility markets.

“We aim to bring new business to the sector on the back of our European success through our multiple channels to market,” said Green. “We have ambitions to be in the top 20 of leasing companies within five years.”

Drivalia is already operational in the following six European countries:

• Denmark

• France

• Greece

• Italy

• Portugal

• Spain

The leasing company currently has a 55,000 fleet worldwide, plus 650 mobility stores where customers can lease, rent or sign up to  a car subscription, and a portfolio of 1,600 charging stations to support the growth of electrification.

Drivalia was formed following the separation of the FCA Bank from Leasys when PSA Group — since renamed Stellantis — bought the Fiat Chrysler Automobiles group.

The FCA Bank, which remained a separate entity following the Stellantis purchase, then partnered with France’s second largest bank, Credit Agricole, to form the Drivalia brand.