Cazoo joins exclusive $1bn ‘unicorn’ club
Online car retailer Cazoo has become the fastest British company in history to reach valuations in excess of $1bn (£790m), after passing the milestone just six months after launching.
It joined the exclusive list of companies with this valuation, known as unicorns, its latest funding round saw Draper Esprit join existing investors including DMG Ventures and General Catalyst.
Cazoo has already delivered thousands of cars all across the UK, offering free delivery and seven-day money back guarantee.
Alex Chesterman OBE, founder and CEO of Cazoo, said: “We have an amazing team who are dedicated to reinventing the used car buying experience by providing the best selection, value, quality, and convenience for UK car buyers. Despite the current challenges many businesses are facing, Britain remains a market leader for talent and innovation and a great place to start a business.”
