Cazoo raises £240m Series D round with participation from Draper Esprit
Draper Esprit is pleased to participate in Cazoo's £240 million Series D round.
Our participation follows on from our investment in the company's £25m Series C funding round, alongside Stride, part of the Draper Esprit Fund of Funds portfolio.
The British online used car marketplace, Cazoo, digitises the car buying experience and allows customers to purchase a car online and have it delivered to their door in as little as 72 hours. Founded in late 2018 by Lovefilm and Zoopla founder, Alex Chesterman, the company changes the way consumers purchase cars. Cazoo owns and fully reconditions all its cars before putting them up for sale and delivering them directly to the customer’s front door. The purchase of the car takes place entirely online, including instant financing as well as getting an instant offer for any part exchange. The company’s cars come with 90-day warranties and roadside assistance.
Will Turner, Managing Partner at Draper Esprit:
"We are very pleased to continue to support our old friend Alex Chesterman, and his exceptional team, on his breath-taking journey as he executes on plan to transform the used car market. Consumers are now increasingly comfortable spending more for on-line purchases, and Alex is building the pre-eminent trusted and friction-free platform to satisfy increasing consumer demand at scale."
Read the press release here.