Cazoo secures £465m additional funding

Online car retailer Cazoo has raised $630m (£465m) in additional capital through a shares transaction.

The transaction is led by new investor Viking Global Investors, alongside participation from several existing shareholders including Mubadala Investment Company, D1 Capital and Willoughby Capital as well as other new and existing investors.

The additional capital, which elevates the company’s cash balance to about $900m, will support Cazoo’s continued growth in the UK and expansion in Europe, and will supplement Cazoo’s current strong liquidity position while supporting the company’s multi-year strategy.

Alex Chesterman OBE, founder and CEO of Cazoo, said: “This transaction, where we have raised an additional $630m, further reinforces the strong belief in Cazoo from new and existing shareholders who, like us, are extremely excited about the huge market opportunity that we have ahead of us. We are now very well-funded for the coming years to continue to capitalise on this opportunity and deliver the best car buying and selling experience for consumers across the UK and Europe.”