Online car dealership Cazoo has continued its acquisition spree, snapping up Cluno, Germany’s leading consumer car subscription platform, as it eyes international expansion.
Cluno works by users paying monthly subscription fees for their cars as well as maintenance, service, warranty, tax and insurance.
It comes as the latest purchase by Cazoo, founded by veteran entrepreneur Alex Chesterman, which has been bulking out its operations over the past year.
Last week, reports emerged that the company had hired bankers for a public float, which could value it as high as £6bn.
Chesterman, who founded Zoopla, told the Telegraph last summer that Covid-19 had accelerated the trend for people to buy cars online. “If you surveyed people in the second half of 2019, which we did, and asked what percentage of them would be prepared to be keen to buy a car online. That number has now doubled.”