Cazoo acquires subscription platform
Cazoo has agreed to acquire Drover, a leading UK car subscription platform.
The deal will combine Cazoo’s brand, platform and significant funding with Drover’s expertise and relationships in car subscription and, once integrated, will enable Cazoo to give its customers the option of purchasing, financing or subscribing to the thousands of cars on its platform.
Drover also has a nascent and fast-growing subscription business in France which will form the launchpad for Cazoo’s planned European expansion.
Alex Chesterman OBE, founder and CEO of Cazoo said: “The acquisition of Drover will enable Cazoo to rapidly expand into car subscriptions and give our customers the option of purchasing their next car outright, financing it over a multi-year period or subscribing for a shorter, more flexible period.”
Felix Leuschner, founder and CEO of Drover said: “I am very proud of what we have achieved with Drover in such short time. We have built a great team and developed a sizeable and loyal subscriber base with strong revenues. Alex and the team at Cazoo have a very clear strategy and vision and I am very much looking forward to accelerating the growth of car subscriptions as part of Cazoo and to continuing to develop the business beyond the UK.”
