UK – Cazoo, a UK-based digital platform to buy used cars, raised an additional £25m in funding.
The round valued the company at over $1 billion and brought the total raised by the company to over £200m. New investor Draper Esprit joined existing investors including DMG Ventures and General Catalyst. Founded 18 months ago by serial entrepreneur Alex Chesterman and launched 6 months ago, Cazoo is an online car retailer which allows consumers to purchase a used car entirely online and have it delivered to their place in 72 hours with free delivery and 7-day money back guarantee. The company owns and fully reconditions all its cars before offering them for sale and delivering them to customers in a two-hour delivery slot. Buyers can transact fully online including getting instant financing as well as getting an instant offer for any part exchange. Cazoo has already delivered thousands of cars all across the UK. 23/06/2020
