Cazoo secures further funding
Cazoo has raised a further £240m of funding. This latest round takes the total funding in the two years since Cazoo was founded to a record-setting £450m.
Cazoo’s latest backers include General Catalyst, D1 Capital Partners and funds managed by Fidelity Management & Research Company and Blackrock alongside L Catterton, Durable Capital Partners, The Spruce House Partnership, Novator, Mubadala Capital and dmg ventures.
Cazoo is pioneering the shift to online car buying in the UK and has achieved revenues of over £100m since its launch less than a year ago.
Alex Chesterman OBE, founder and CEO of Cazoo said: “Over the past few months we have seen an acceleration in the shift from offline to online car buying. This latest funding demonstrates the conviction of some of the world’s best investors in both our business model and team as well as the UK market.”
