Cazoo, a UK based online used car buying plaform, raised a further £240m of funding.
This latest round, which brought total funding in the two years since Cazoo was founded to £450m, was led by General Catalyst, D1 Capital Partners and funds managed by Fidelity Management & Research Company and Blackrock alongside other new and existing investors including L Catterton, Durable Capital Partners, The Spruce House Partnership, Novator, Mubadala Capital and dmg ventures, amongst others.
Founded by Alex Chesterman, whose previous ventures include both Zoopla and LoveFilm, Cazoo is now selling and delivering thousands of cars a month to customers all around the country. The company owns and fully reconditions all its cars before offering them for sale exclusively on its website. It lists thousands of cars in stock at any time, all stored centrally in the Midlands and available for either home delivery anywhere in the UK or collection from one of its Customer Centres in as little as 72 hours. Every car comes with a full 7-day money back guarantee and a comprehensive 90-day warranty.
The company has already achieved revenues of over £100m since its launch less than a year ago.