Cazana.com, a London, UK-based used vehicle database, raised £1.75m ($2.31m) in funding.
Backers included Origin Capital, Passion Capital, Robert Diamond, Andy Homer.
The company intends to use the funds to accelerate its growth plans.
Founded in 2013 by Tom Wood, Cazana is now the largest car search and indexing engine for used cars on sale in the UK, with more than 600,000 cars listed for sale on the website and records of all 37 million vehicles on the road.
The company’s database and technology leverages artificial intelligence (AI) to show every car on-sale, extract the hidden history on every vehicle and allow customers to track a car’s value and history with a timeline of events from manufacturer to present day.
It also provides a wealth of data to manufacturers, finance and leasing companies to help customers understand residual value risk and the changing prices of vehicles. Cazana currently provides car checks to users with information about a car that they are searching for. On an initial search for a vehicle, the user gets a valuation as well as a running history of the vehicle’s MOT history, sales history, owner change information plus others.
More than 600,000 cars are listed for sale on the website.
FinSMEs
09/11/2017