Cazoo raises £25m funding round led by Draper Esprit, valuing the company to over $1B

– UK, London –  Cazoo, the UK’s fastest-growing digital business which is transforming the way we buy used cars, today announced a £25m funding round led by new investor Draper Esprit alongside existing investors including DMG Ventures and General Catalyst.

This new funding brings the total raised to-date to over £200m, and lead the company in the exclusive list of unicorns companies with valuations in excess of $1 billion.

Founded 18 months ago by serial entrepreneur Alex Chesterman and having launched only 6 months ago, Cazoo is now the fastest British business ever to have reached the rare and coveted unicorn status.

“We have an amazing team who are dedicated to reinventing the used car buying experience by providing the best selection, value, quality, and convenience for UK car buyers. Despite the current challenges many businesses are facing, Britain remains a market leader for talent and innovation and a great place to start a business,” said Founder & CEO, Alex Chesterman OBE.

Cazoo makes buying a car no different than buying any other product online today, where consumers can purchase a used car entirely online and have it delivered to their door in as little as 72 hours. Cazoo has quickly become the country’s leading online car retailer and already delivered thousands of cars all across the UK as buyers embrace the online convenience, free delivery and 7-day money-back guarantee.

Cazoo owns and fully reconditions all its cars before offering them for sale and delivering them to customers’ doors in a convenient two-hour delivery slot. Buyers can transact fully online including getting instant financing as well as getting an instant offer for any part exchange. Every Cazoo car also comes with a free comprehensive 90-day warranty and roadside assistance.

About Cazoo

Our mission is to transform the way people buy used cars in the UK by providing better selection, value, convenience and quality. We aim to make car buying no different than buying any other product online today, where consumers can simply and seamlessly purchase a used car entirely online and have it delivered to their door in as little as 72 hours. Cazoo was founded in 2018 and has a highly experienced management team, led by Founder & CEO, Alex Chesterman OBE.

For more information: https://www.cazoo.co.uk

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