The equity-raise, which will take the total sum invested in Cazoo since Chesterman came up with the idea for the business in 2018 to £180 million, will be announced soon.
Tech sector sources said that the amount being raised by the company was "staggering" against a backdrop which has seen funds fleeing new investments as they seeks to digest the implications of the coronavirus pandemic.
The £180 million figure is said to be a record for any British start-up during its first year of trading.
DMG Ventures, the venture arm of the Daily Mail's parent company, led the latest round, which is said to have been secured at a substantial premium to earlier valuations.
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