Cazana, the car data company out of London, UK, recently opened their Series A funding round to consumers and fans using a 1.15 million euro crowd-funding campaign on Crowdcube.
Using big data and predictive analytics, Cazana provides automotive insights for vehicle owners and renters, analysing millions of automotive transactions daily to assess the value and risk associated with every vehicle on the road. Founded in 2013, Cazana is already used by manufacturers, finance companies, dealerships, and insurers across the globe.
The funding round is set to be led by Passion Capital, along with industry heavyweights David Hammond and Robert Diamond, along with existing Cazana customers and motoring enthusiasts also expected to take a stake.
The funding will support the global expansion of the business, and be used to develop Cazana’s growing suite of services, including the newly acquired Car & Classic website – the largest classic and specialist vehicle marketplace in Europe, with over 2 million visitors monthly. Cazana expects to reach €25 million in revenue by 2022.
Cazana also offers free online car checking and valuation services for customers, allowing them to access the 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.
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