Car marketplace Cazoo raises £240 million

London-based Cazoo announced it has raised £240 million, bringing its total funding to date to £450 million. Investors include General Catalyst, D1 Capital Partners and funds managed by Fidelity Management & Research Company; to name a few.

Founded in 2018 by Alex Chesterman, Cazoo is pioneering the shift to online car buying in the UK and is now selling and delivering thousands of cars a month to customers all around the country. Consumers have rapidly embraced the transparency and convenience of buying used cars entirely online and Cazoo has already achieved revenues of over £100 million since its launch less than a year ago, another UK record.

Cazoo 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 Cazoo Customer Centres in as little as 72 hours. Every Cazoo car comes with a full 7-day money back guarantee and a comprehensive 90-day warranty.

“Over the past few months we have seen an acceleration in the shift from offline to online car buying as UK consumers have continued to embrace our unique and market-leading proposition. 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 and gives Cazoo the firepower to deliver on our plans to provide the best possible car buying experience for UK consumers.” –  Founder & CEO of Cazoo, Alex Chesterman.