Numis acted as joint placement agent in relation to Cazoo’s £240m primary capital raise.
Cazoo owns and fully reconditions all of its cars before offering them for sale exclusively on its website.
Consumers are rapidly embracing the transparency and convenience of buying used cars entirely online. Cazoo has achieved revenues of over £100m in less than a year since its launch.
Working closely with one of the UK’s fastest growing technology businesses, we acted as joint placement agent to deliver the Company’s £240m primary capital raise. Significantly oversubscribed and completed in record time, the fundraise more than doubled Cazoo’s valuation to over $2bn.
This latest round takes the total funding in the two years since Cazoo was founded to a record-setting £450m, as it continues to transform the way people buy used cars in the UK.
“I have known Alex for seventeen years since our days building LoveFilm. He has made a career out of identifying large consumer markets where technology can drive change and then leading that transformation by focusing on the customer and delivering value, convenience and a trusted service. With Cazoo, Alex is taking his proven playbook to perhaps his largest opportunity yet for the benefit of used car buyers across the UK.”
“We’re excited to partner with Alex and the team at Cazoo. They have generated enormous value for customers and shareholders in their previous internet ventures and we are confident that Cazoo will greatly accelerate the digital transformation of the used car industry and dramatically improve the car buying experience for consumers in the UK.”