UK-based used car marketplace Cazoo seizes the moment, raises a further £240 million
Cazoo, the used-car sales platform, reached ‘unicorn’ status after raising a little over $31 million (£25 million) at a $1 billion+ valuation just three months ago. Today, the UK-based company is announcing that it has raised a further £240 million (€265 million) of funding at more than double the last valuation. The latest round takes the total funding since Cazoo was founded to a whopping £450 million. It was led by General Catalyst, D1 Capital Partners and funds managed by Fidelity and Blackrock alongside other new and existing investors including L Catterton, Durable Capital Partners, The Spruce House Partnership, Novator, Mubadala Capital and dmg ventures, amongst others. “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.