HomeUKCazoo Raises UK£100M in Additional Funding

Cazoo Raises UK£100M in Additional Funding

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Cazoo, a UK based online car buying company, raised a further £100m in funding.

The round, which brought total funding raised to date to over £180m, was led by DMG Ventures with participation from General Catalyst, CNP (Groupe Frère), Mubadala Capital, Octopus Ventures, Eight Roads Ventures and Stride.VC.

The company intends to use the funds to continue to expand operations and its business reach.

Founded by Alex Chesterman, who previously founded LoveFilm and Zoopla, Cazoo provides an online platform which enables people to purchase a used car entirely online and have it delivered in 72 hours. The company owns and fully reconditions all its cars before offering them for sale and delivering them free to customers in a two-hour delivery slot. Every car comes with a 7-day money-back guarantee, free comprehensive 90-day warranty and roadside assistance. Buyers can purchase or finance one of the thousands of cars online as well as getting an instant offer for any part exchange. Since launch in December, Cazoo has already served thousands of customers, delivering cars to them across every region of the UK and has generated over £20 million in revenues in its first 3 months.

FinSMEs

23/03/2020

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