Cazoo raises $630m to support EU expansion and UK growth

Online car retailer Cazoo has raised $630m from investors to fund its expansion into Europe, while the UK side of the business continues to grow.

Investors led by Viking Global will buy via a private placement 2 per cent convertible senior notes, which will then be turned into Class A ordinary shares and sold at an initial price of $5.

Existing shareholders such as Mubadala Investment, D1 Capital and Willoughby Capital feature among the funding’s backers.