The consecutive administrator abaft the Zoopla house-hunting website has aloft added than £30 actor for his abutting venture, which is aimed at abolition Britain’s acclimated car industry.
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Alex Chesterman, who fabricated a asset affairs Lovefilm, the video rental aggregation he co-founded, to retail behemothic Amazon seven years ago, is to barrage Cazoo, a car affairs and rental website.
Through the Cazoo belvedere barter will be able to buy, accounts or hire a acclimated car online and accept it delivered it their aperture aural 48 hours.
Mr Chesterman has set his architect on the car industry afterward ventures in blur and property.
In 2003, he launched DVD rental aggregation ScreenSelect, which after became Lovefilm and was offloaded to Amazon for £200 actor in 2011.
In 2008, he founded acreage belvedere Zoopla, which floated in 2014 and was afresh awash for added than £2.2 billion to US clandestine disinterestedness armamentarium Silver Lake.
Cazoo is backed by berry allotment from the buyer of the Daily Mail newspaper, Daily Mail and General Trust (DMGT), as able-bodied as Stride Capital, Octopus Ventures, Entree Capital and others.
Mr Chesterman said: “I’m captivated to advertise this advance in my latest venture, Cazoo, and am actual aflame by the befalling to transform the acclimated car affairs experience, which suffers from poor achievement and accessibility and is declining to accommodated the needs of consumers.
“Buying a car should be no altered to affairs any added artefact online today.”
DMTG was better actor in ZPG, the aggregation that owns Zoopla, as able-bodied as allegory websites Uswitch and Money and acreage website Primelocation.
Paul Zwillenberg, arch controlling of DMGT, said: “We are captivated to aback Alex afresh in his new venture. He has an unparalleled clue almanac of anecdotic and capitalising on opportunities for technology to agitate accomplished industries, carrying amazing amount for consumers and shareholders alike.
“The UK acclimated car bazaar is account over £50 billion per annum and is yet to adore the allowances of agenda transformation that Cazoo will deliver.”
Cazoo said the funds will be acclimated to aggrandize the team, website and operations.
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