28 May 2020 - Article
The Withers tech team advised a multi-national group of venture capital funds on their participation in the £100m+ Series C funding round by online used car sales business Cazoo.
Withers tech clients included Stride.VC, Belgian family-owned fund CNP (Groupe Frère), Abu Dhabi’s Mubadala Capital and Eight Roads Ventures. The funding round was led by dmg ventures, the VC fund established by the Daily Mail.
Cazoo, which was launched in 2018 by serial entrepreneur Alex Chesterman, founder of LoveFilm and Zoopla, provides an online platform for car sales and purchases and delivers cars directly to the buyer. It is expecting that its business model will remain popular during the coronavirus pandemic, as it minimises the need for social contact.
Withers tech previously acted for investor groups in connection with the Cazoo’s Series A round in 2018, and the Series B round in 2019.
The Withers tech team consisted of global head James Shaw and senior associate Robert Glass.