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Cazana looks to drive business forward with £1m fundraise

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by Startacus Admin

CazanaAutomotive fintech, AI and data company Cazana looks to drive the business further forward with a £1m crowd fundraise to support expansion into the US market.

Cazana provides automotive insights for the future of vehicle ownership. Using big data and predictive analytics, Cazana analyses millions of automotive transactions daily to Cazanaassess the value and risk associated with every vehicle on the road.

Used by manufacturers, finance companies, dealerships and insurers globally, companies use Cazana's data to provide vehicles to the modern automotive consumer who wants to access, not own vehicles. The startup, which launched in 2013, uses AI and big data to provide customers with information on modern and classic cars, is predicted to hit £22 million in revenue by 2022 and is currently the busiest car checking service in the UK used by over 1 million consumers every month who are in the market.

CazanaNow they are looking to raise £1m via crowdcube, to support the global expansion of the business, as well as accelerating monetisation of Cazana’s B2B sales. It will also be used to develop Cazana’s growing suite of services, including the newly acquired Car & Classic website.

 The raise is set to be led by Passion Capital, along with industry heavyweights David Hammond and ex-RAC Managing Director Robert Diamond, with existing Cazana customers and motoring enthusiasts also expected to take a stake.

Cazana also offers free online car checking and valuation services for customers, allowing them to access real-time values of vehicles along with previously unseen history information. Their database, which covers every car on the road, also provides insights to businesses to inform their lending and pricing strategy. The Financial Ombudsman also recommend the use of Cazana for insurance total loss valuations with many of the UK’s motor insurers now benefiting from Cazana’s accurate, whole market valuations.

The acquisition of Car & Classic in 2018 also enabled Cazana to pool two powerful digital motoring databases. Car & Classic is Europe’s largest classic car community as well as the world’s largest classified website for classic cars, facilitating the sale of more than 480 million classic cars in 2018. This latest round of finance aims to boost the reach of both platforms.

Interested in this automobile focused startup? You might also want to read up on: 

LeaseFetcher - Car leasing made easy, thanks to this comparison website startup.

Drover - the startup that offers all inclusive car subscriptions for everyday and private hire drivers across the UK.

Zebra Fuel - an innovative app that delivers diesel directly to your car.

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Published on: 30th January 2019

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