Caura secures £4m from Lloyds Banking Group to expand vehicle management application
Lloyds Banking Group provided the funding to support the development of new features for mobile applications.
Caura develops an all-in-one mobile application designed to simplify vehicle administration and payments for motorists in the UK. The platform consolidates charges including tax, MOT, and tolls into a single digital interface.
Caura has secured £4m in funding from Lloyds Banking Group to expand its product offerings for mobile applications. The investment will support the development of new features covering vehicle maintenance and parking services for consumer and business users. Lloyds Banking Group led the transaction as part of its ongoing fintech strategy.
The capital injection marks the first investment of 2023 for the bank's recently established fintech investment team. Caura intends to use the proceeds to broaden its scope beyond basic tolls and taxes into embedded financial services and enterprise solutions.
Use of funds
- 01Continue product development