The luxury resale platform raised £4.7m from dmg ventures, Hunt Investment Group, and Concurrence Capital to drive international expansion and recruitment.
"It is brilliant to receive further backing from such esteemed business leaders, most notably during what has been an incredibly tough year for certain sectors. This investment comes at a crucial stage of our journey. The valued support and investment from new and existing investors will allow us to continue our rapid expansion at a time when we are moving towards a more international model. It’s great to see business leaders investing in the luxury resale market, as we move to a more sustainable and conscious way of living, as well as supporting circular fashion which people are buying into increasingly."
The financing round was led by General Catalyst alongside several other prominent institutional investors.
"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."
The round was led by dmg ventures, Stride, Octopus Ventures, and Entrée Capital to support team growth and operational expansion.
"We are delighted to have closed this further funding round, giving us significant firepower to fuel our growth after we launch later this year. We are assembling a world-class team and looking forward to transforming the used car market by delivering UK consumers the best car buying experience in terms of selection, value, quality and convenience."
