Cazana, the UK car data company, is utilizing artificial intelligence and big data in order to give consumers better knowledge about modern and classic cars. The company recently ended a fund raising round through Crowdcube worth over €1.75 million. Both Carzana and their subsidiary company Car & Classic are the United Kingdom's most popular free vehicle listing site and boast over two million visitors every month.
Launched in 2013, Cazana also offers free online car checking and valuation services for customers, allowing them to access real-time values of vehicles along with previously unseen history information. Its database, which covers every car on the road, also provides insights to businesses to inform their lending and pricing strategy. Cazana is expecting to reach €25.7 million in revenue by 2022.
The raise was led by Passion Capital, along with industry heavyweights David Hammond and ex-RAC Managing Director Robert Diamond, with existing Cazana customers and motoring enthusiasts also investing their money in the rapidly growing business.
The new funding will support the global expansion of the business, as well as accelerating monetisation of Cazana’s B2B sales. It will also be used to develop Cazana’s growing suite of services, including the newly acquired Car & Classic website, and support its expansion in the US market.
The acquisition of Car & Classic in 2018 enabled Cazana to pool two powerful digital motoring databases. Car & Classic is Europe’s largest classic car community as well as the world’s largest classified website for classic cars, facilitating the sale of more than 480 million classic cars in 2018.
Read more here
Join us in Bangkok the 19th to the 21st of March for the Property Portal Watch Conference.