OCar dealership nline Cazoo continued its acquisition frenzy, taking Cluno, Germany’s leading consumer car subscription platform, as it considers international expansion.
Cluno is operated by users who pay monthly subscription fees for their cars as well as maintenance, service, warranty, taxes, and insurance.
This is the latest purchase from Cazoo, founded by veteran entrepreneur Alex Chesterman, who has increased operations over the past year.
Last week, reports revealed the company had hired bankers for a public float, which could value it up to £ 6bn.
Chesterman, who founded Zoopla, told the Telegraph last summer that Covid-19 accelerated the trend for people to buy cars online. “If you asked people in the second half of 2019, which we did, and you asked them what percentage of them would be willing to want to buy a car online. That number has now doubled. ”