October 27, 2020
car

Cazoo, the UK used car sales portal, raises another $311M, now valued at over $2B

A lot of people are opting to use cars instead of taking public transportation in the UK at the moment, as a way of ensuring more social distancing, and today one of the startups that’s built a more efficient way of selling and buying cars is announcing a big round of funding. Cazoo, which provides an app-based way to browse and buy used cars (it’s modeled on the likes of Vroom in the US), has picked up £240 million ($311 million).

The funding comes only six months after the company raised $116 million. Cazoo is now valued at over $2 billion, double its previous valuation a year ago, it confirmed. (For some context, the company had never confirmed its valuation prior to now and it was estimated at a much lower amount.)

This latest funding is being led by General Catalyst, D1 Capital Partners and funds managed by Fidelity Management

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