Cazoo acquires Cluno
After acquiring UK-based car subscription platform Drover, Cazoo is announcing another deal involving a car subscription platform. The startup is buying Cluno, a German startup that was founded in 2017 and had grown to a team of over 100.
Cluno, which raised ~$190M in equity and debt, offers a flexible alternative to car ownership featuring a single monthly subscription fee which includes the car, maintenance, service, warranty, tax and insurance. Earlier this month, the startup announced a partnership with Zurich in Germany.
Recently, it was reported that Cazoo is eyeing a $6 billion IPO.
“Cluno has built a market-leading offering in the car subscription market in Germany with thousands of loyal customers, and we are delighted to welcome Nico and his team to the Cazoo family. We will be launching the full Cazoo proposition in Europe later this year from our new European headquarters in Munich, and we look forward to offering customers the option of purchasing, financing or subscribing to thousands of Cazoo cars.” – Alex Chesterman OBE, Founder & CEO of Cazoo.
“I am very proud of what we have created at Cluno in terms of both the customer experience and the team. The vision and strategy that Alex and his team have for developing the Cazoo brand and platform is totally aligned with ours and we are looking forward to joining forces and accelerating the digital transformation of the car buying experience across Europe.” – Nico Polleti, Founder & CEO of Cluno.