Cazoo operates an online platform that enables consumers to buy used cars entirely online, from search and financing to home delivery. The company focuses on simplifying the traditional car-buying process through transparent pricing, detailed vehicle data, and end-to-end digital transactions.
In addition to car sales, Cazoo offers financing, servicing, and ancillary automotive services. The platform targets convenience-driven consumers seeking an alternative to traditional dealerships.
What Is Cazoo and What Does It Do?
Cazoo, founded in 2018, is a London-based online automotive marketplace focused on buying and selling used cars through a fully digital experience.
The platform allows users to browse vehicles, review specifications and service history, secure financing, and arrange doorstep delivery. Cazoo also provides valuation tools and post-purchase support services.
Cazoo employs 3,226 employees as of December 2022 and operates primarily in the United Kingdom.
How Much Funding Has Cazoo Raised?
1. Seed Round
- Amount Raised: £30M
- Date: December 2018
- Lead Investors: Stride.VC
- Motivation: To launch the platform and build core infrastructure.
2. Venture Round
- Amount Raised: £25M
- Date: September 2019
- Lead Investors: dmg ventures
- Motivation: To expand operations and enhance the online buying experience.
3. Venture Round
- Amount Raised: £25M
- Date: December 2019
- Motivation: To scale inventory and operational capabilities.
4. Venture Round
- Amount Raised: £100M
- Date: March 2020
- Lead Investors: dmg ventures
- Motivation: To support rapid growth and market expansion.
5. Venture Round
- Amount Raised: $31M
- Date: June 2020
- Lead Investors: Molten Ventures
- Motivation: To strengthen technology and logistics infrastructure.
6. Series D
- Amount Raised: £240M
- Date: October 2020
- Lead Investors: BlackRock, D1 Capital Partners, Fidelity, General Catalyst
- Motivation: To accelerate scale and expand into new markets.
7. Post-IPO Equity
- Amount Raised: $800M
- Date: August 2021
- Motivation: To support public market entry and continued growth.
8. Post-IPO Debt
- Amount Raised: $630M
- Date: February 2022
- Lead Investors: Viking Global Investors
- Motivation: To strengthen liquidity and fund ongoing operations.
9. Post-IPO Debt
- Amount Raised: $200M
- Date: September 2023
- Motivation: To improve financial stability and support restructuring.
Total Funding Raised: $563 Million
Latest Funding Date: September, 2023
Key Investors
1. BlackRock
- Details: The world’s largest asset management firm with a strong presence in growth-stage technology companies.
- Investment Focus Areas: Technology, financial services, consumer platforms.
- Notable Investments: Cazoo, Amazon, Apple, Microsoft.
2. Fidelity Investments
- Details: A global financial services company offering asset management and investment solutions.
- Investment Focus Areas: Public and private technology companies.
- Notable Investments: Cazoo, Airbnb, Uber, SpaceX.
3. General Catalyst
- Details: A venture capital firm backing early and growth-stage technology companies.
- Investment Focus Areas: Consumer internet, fintech, healthcare, enterprise software.
- Notable Investments: Cazoo, Stripe, Snap, DoorDash.
4. Viking Global Investors
- Details: A global investment firm focused on long-term growth opportunities.
- Investment Focus Areas: Technology, healthcare, consumer businesses.
- Notable Investments: Cazoo, Stripe, Instacart, SpaceX.
5. Stride.VC
- Details: A London-based early-stage venture capital firm.
- Investment Focus Areas: Technology startups.
- Notable Investments: Cazoo, Deliveroo, Zoopla.
Where Is Cazoo’s Headquarters?
Cazoo is headquartered in London, United Kingdom, serving as the base for its digital automotive marketplace operations.
What’s Next for Cazoo?
Cazoo is focused on transitioning to a more asset-light marketplace model while optimizing costs and improving unit economics. The company aims to strengthen its core UK operations and enhance platform efficiency.
As consumer behavior continues shifting toward online car buying, Cazoo’s long-term opportunity lies in becoming a leading digital marketplace for automotive transactions in the UK.
Get Investor & Funding Insights with TexAu
TexAu helps sales and business teams uncover detailed fundraising information on companies like Cazoo. Use the platform to research investors, track funding rounds, and gather actionable insights to strengthen prospecting and business strategy.
Sign Up for Free on TexAu and start uncovering detailed funding insights that give your business a competitive edge.